Tesla Reports $80M Bitcoin Profit in Q3 as Holdings Reach $1.35B
Tesla (TSLA) booked an $80 million gain on its Bitcoin holdings during the third quarter, driven by the cryptocurrency’s appreciation over the period.
As of September 30, the electric vehicle giant held 11,509 BTC, valued at roughly $1.35 billion, up from $1.235 billion at the end of Q2. Under new FASB accounting rules, Tesla now reports gains or losses on its digital assets each quarter, replacing the previous requirement to mark holdings to the lowest price in the period.
The company also posted Q3 revenue of $28.1 billion, exceeding estimates of $26.36 billion, while adjusted EPS of $0.50 slightly missed forecasts of $0.54. Adjusted EBITDA was $4.3 billion, and total cash and equivalents stood at $41.6 billion at quarter-end.
Shares of TSLA slipped modestly in after-hours trading to $434.
About The Author
More Stories
Bitcoin slips below $70,000 as crypto selloff intensifies ahead of the U.S. equity open.
Bitcoin rebounds above $71,000 as tech stock selloff eases.
Bhutan shifts bitcoin to trading firms and exchanges as BTC slides toward $70,000.