Tesla holds bitcoin treasury steady, reports $112M impairment loss The electric vehicle maker maintained its 11,509 BTC treasury through the second quarter as bitcoin declined 14%, alongside mixed earnings that beat revenue expectations but missed on profit. – Tesla held its…
tcoin treasury unchanged at 11,509 BTC, extending a nearly four-year streak without buying or selling the cryptocurrency, with an after-tax impairment loss of $112 million on its digital asset holdings. – Bitcoin dropped 14% during the second quarter, from about $83,000 to $58,000, before rebounding to around $65,840. – Tesla reported mixed second-quarter results, with revenue beating estimates at $28.2 billion while adjusted EPS missed expectations at $0.33. Tesla (TSLA) held its bitcoin The electric vehicle maker reported an after-tax impairment loss of $112 million on its digital asset holdings, according to its latest earnings release
Tesla has neither bought nor sold any bitcoin since 2022. Bitcoin fell from about $83,000 at the start of the second quarter to roughly $58,000 by the end of June amid broader macroeconomic uncertainty and volatility across risk assets. The cryptocurrency was recently trading at $65,840.
Tesla remains one of the largest publicly traded corporate holders of bitcoin, though its holdings are significantly smaller than those of firms such as Strategy (MSTR), which has continued to aggressively accumulate the cryptocurrency. The company’s crypto update came alongside mixed second-quarter financial results. Tesla reported non-GAAP earnings per share of $0.33, missing analyst expectations of $0.55.