Tesla holds bitcoin treasury steady, reports $112M impairment loss
CoinDesk·
60-second summary
Tesla holds its 11,509 BTC treasury steady through the second quarter despite a 14% decline in bitcoin value, contributing to a $112 million impairment loss. The electric vehicle maker's mixed earnings report beat revenue expectations but missed on profit, underscoring the volatility of its bitcoin investment, which may impact future financials and investor confidence.
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.