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Satelites actually come in many shapes and sizes. The first one, Sputnik, was actually a sphere with antenas!

We often make today's satellites square because it's easy. Since we don't need to worry about it being aerodynamic (there's no air in space to create drag), a satellite can be any shape we want it to be. With a square or rectangular shape, things can be sorted nicely. Same with satelites: we like squares because they have walls and corners, great for putting important components.