During it, CFO Vaibhav Taneja revealed a critical piece of information about the company’s bookings: Tesla made $600 million off Bitcoin (BTC) in Q4. Vaibhav Taneja acknowledged Tesla’s ...

Tesla reported a $600 million gain on its 11,509 Bitcoin holdings in Q4 2024, benefiting from new FASB accounting rules that allow fair market value reporting ...

Adrian Zmudzinski is a cryptocurrency journalist with over 4,000 articles under his belt. His bylines include Cointelegraph, Benzinga, Crypto.News, and BeInCrypto. We uphold a strict editorial ...

Tesla profits rose 34% on a bitcoin boost last quarter following an accounting rule change. Tesla's paper gains on bitcoin accounted for nearly $600 million of its net income this quarter.

Tesla reported a $600 million gain from its Bitcoin holdings in the fourth quarter of 2024 thanks to new accounting rules that allow companies to record the market value of the crypto on their books.

"Net income in Q4 was impacted by a $600 million mark-to-market benefit from bitcoin due to the adoption of a new accounting standard for digital assets," Tesla said. The company reported ...

Tesla said its digital asset holdings were now valued at $1.076 billion A wallet linked to the EV maker by Arkham shows that Tesla holds over 11,500 $BTC worth some ...

Tesla overall reported adjusted EPS of $0.73 in the fourth quarter, missing estimates for $0.76. The gain on its bitcoin holdings was for GAAP purposes and would have had no effect on adjusted EPS.