PANews, July 23 – According to CoinDesk, Tesla maintained its Bitcoin holdings unchanged in the second quarter, still holding 11,509 BTC, extending its record of no Bitcoin purchases or sales for nearly four years. As Bitcoin fell from approximately $83,000 to $58,000 during the quarter, Tesla reported a $112 million after-tax impairment loss on its digital asset holdings.
Tesla remains one of the largest corporate Bitcoin holders, but its holdings are significantly smaller than companies like Strategy, which continue to accumulate. In terms of financial results, Tesla reported non-GAAP earnings per share of $0.33 for the second quarter, below the expected $0.55; revenue of $28.2 billion, above the expected $27.6 billion; gross margin of 16.8%; GAAP net profit of $1.11 billion; and free cash flow of negative $1.1 billion. Tesla initially purchased $1.5 billion in Bitcoin in early 2021, sold about 75% of its holdings in 2022, and has since maintained its remaining 11,509 BTC to date.
