Tesla’s Bitcoin Holdings Generate $80M Profit in Q3

Tesla Books $80M Bitcoin Gain as Q3 Revenue Tops Expectations

Tesla (TSLA) posted an $80 million profit on its Bitcoin holdings in the third quarter, reflecting gains from the cryptocurrency’s appreciation.

As of September 30, the company held 11,509 BTC, valued at about $1.35 billion, up from $1.235 billion at the end of Q2. Under new FASB accounting rules, Tesla now records quarterly gains or losses on digital assets rather than marking them down to their lowest value during the period.

The electric vehicle maker also reported Q3 revenue of $28.1 billion, surpassing analyst expectations of $26.36 billion, while adjusted EPS came in at $0.50, slightly below forecasts of $0.54. Adjusted EBITDA totaled $4.3 billion, and cash and equivalents stood at $41.6 billion.

After-hours, TSLA shares traded slightly lower at $434.