Tesla books $80 million Bitcoin gain in Q3
Tesla recorded an $80 million bitcoin revaluation gain in the third quarter after the digital asset’s price rose. The company held 11,509 BTC, valued at about $1.35 billion as of Sept. 30, and did not buy or sell bitcoin during the quarter.
The gain reflects updated fair-value accounting that requires companies to mark crypto holdings to market each reporting period. The fair-value rule means crypto holdings are re-measured each quarter, with unrealized gains and losses running through earnings rather than equity. It’s non-cash, yet it can swing operating results.
Tesla also reported revenue of $28.1 billion and adjusted EBITDA of about $4.3 billion. Adjusted earnings per share were $0.50 versus analysts’ estimates of $0.54. Gross margin improved to 18% from 17.2% in the prior quarter. Tesla reported free cash flow of $3.99 billion and total cash and equivalents of about $41.6 billion at quarter end.
Tesla reaffirmed a 2025 vehicle delivery target of 1.8 million to 1.9 million and reported ongoing work on artificial intelligence initiatives and Dojo training infrastructure. The company did not provide additional comment on its bitcoin position beyond the earnings disclosure.
Blockchain records showed SpaceX moved roughly $268.5 million of bitcoin across wallets during the week, its first major on-chain transfer since July 2025.. It is worth noting that on-chain transfers like SpaceX’s can reflect internal wallet reorganization, not selling; blockchain data reveals movement, not intent.
Together, Tesla and SpaceX hold nearly 20,000 BTC. But combined Tesla–SpaceX bitcoin exposure remains small relative to Tesla’s $41.6 billion cash pile, suggesting limited treasury concentration risk.
Tesla reaffirmed a 2025 vehicle delivery target of 1.8 million to 1.9 million and reported ongoing work on artificial intelligence initiatives and Dojo training infrastructure. The company did not provide additional comment on its bitcoin position beyond the earnings disclosure.
Blockchain records showed SpaceX moved roughly $268.5 million of bitcoin across wallets during the week, its first major on-chain transfer since July 2025.. It is worth noting that on-chain transfers like SpaceX’s can reflect internal wallet reorganization, not selling; blockchain data reveals movement, not intent.
Together, Tesla and SpaceX hold nearly 20,000 BTC. But combined Tesla–SpaceX bitcoin exposure remains small relative to Tesla’s $41.6 billion cash pile, suggesting limited treasury concentration risk.
Recommended