Tesla’s Q2 Bitcoin holdings remained unchanged, recording a $112 million impairment loss.

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PANews July 23 news, citing CoinDesk, that Tesla kept its Bitcoin holdings unchanged in the second quarter, still holding 11,509 BTC, extending its nearly four-year record of not buying or selling Bitcoin. Affected by Bitcoin’s drop from about $83,000 to $58,000 during the quarter, Tesla reported that its digital asset holdings resulted in a $112 million after-tax impairment loss.

Tesla remains one of the largest publicly listed corporate Bitcoin holders, but its holding size is far smaller than companies like Strategy that have continued to accumulate. In its earnings report, Tesla’s Q2 non-GAAP earnings per share were $0.33, below the expected $0.55; revenue was $28.2 billion, above the expected $27.6 billion; gross margin was 16.8%; GAAP net profit was $1.11 billion; and free cash flow was negative $1.1 billion. Tesla bought $1.5 billion worth of Bitcoin in early 2021, and after selling about 75% of its holdings in 2022, it has kept the remaining 11,509 BTC to date.

TSLA-1.27%
BTC-0.65%
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