Block to scale back investment in TIDAL, wind down TBD

In its Q3 shareholder letter, Block (SQ) said, “Within our emerging initiatives, we are refining our investments based on our progress. We are scaling back our investment in TIDAL and winding down TBD. This gives us room to invest in our bitcoin mining initiative, which has strong product market fit and a healthy pipeline of demand, and Bitkey, our self-custody wallet for bitcoin.”