Skip to content

Tesla reports no change in $184M bitcoin holdings amid record $25B revenue

Tesla reported no change in its digital asset holdings throughout its 2023 second quarter investor report, as seen on its shareholder deck on July 19.

That doc signifies that Tesla had digital property value $184 million on June 30, the identical quantity it had on the finish of March 2023 and December 2022.

The final important change in Tesla’s digital asset holdings occurred within the final quarter of 2022 when its holdings fell from $218 million to $184 million. Earlier, in July 2022, the agency mentioned it had offered a portion of its bitcoins for $936 million; The sale was roughly three-quarters of the bitcoins the corporate initially purchased in early 2021.

Public curiosity in Tesla’s cryptocurrency coverage stays excessive, regardless of the corporate’s secure bitcoin holdings. Within the firm’s Q&A submission type, a number of traders requested whether or not Tesla plans to simply accept bitcoin purchases — a cost technique that CEO Elon Musk has dedicated to re-enabling if bitcoin mining turns into 50% depending on renewable vitality. It occurs. It was unclear whether or not Musk or different executives answered these questions in the course of the earnings name.

Tesla had document earnings within the second quarter

Other than the dearth of change within the firm’s bitcoin holdings, Tesla’s newest report is notable because the agency reported document income of $25 billion within the second quarter. The corporate additionally highlighted its work on AI, together with its Dojo coaching pc, in its report.

Regardless of these optimistic developments, Tesla inventory fell 0.71% right now and fell 4.90% in after hours. The CNBC report means that costs fell as a result of Musk and different officers failed to offer specs and dates for the upcoming autos and mentioned manufacturing manufacturing would fall within the third quarter amid manufacturing unit upgrades and shutdowns.

The information comes shortly after Senator Elizabeth Warren requested US regulators to launch an investigation right into a doable battle of curiosity between Tesla and Twitter – which Musk acquired in October 2022.

The report No Change in Tesla’s $184M Bitcoin Holdings Amid Document $25B Income appeared first on Cryptoslate.

Ready to get a best solution for your business?