Tesla’s (TSLA) bitcoin (BTC) stash is now worth around $1.2 billion after the cryptocurrency’s price climbed 30% in the second quarter of this year, according to its earnings report.
The gain reflects a recent change in how U.S. accounting rules treat digital assets — one that works in Tesla’s favor.
Tesla currently holds 11,509 BTC, according to BitcoinTreasuries.Net, making it the tenth largest publicly traded company to hold the crypto asset on its balance sheet. Bitcoin is currently trading at around $118,000, up from $83,000 on April 1.
A rule approved by the Financial Accounting Standards Board (FASB) allows companies to start reporting the fair market value of their crypto holdings each quarter. This shift was required beginning in Q1 2025.
Before this change, corporate holders like Tesla had to report their crypto assets at the lowest value they reached during the time they held them — a method that often didn’t reflect market recoveries. That meant even if bitcoin rebounded, those gains didn’t show up on the balance sheet.
Now, Tesla’s bitcoin gains can be recognized each quarter, giving shareholders a clearer view of the asset’s performance.
Revenue for the automaker came in at $22.5 billion, versus the average analyst estimate of $22.3 billion, according to FactSet data. Earnings-per-share were at $0.40, also matching estimates of $0.40.
Shares of TSLA are up 0.71% in post-market trading hours, with the stock trading at $331.56.