Tesla’s $1.3 Billion Bitcoin Position Delivers $80M Profit in Q3

TLDR

• Tesla held 11,509 BTC worth $1.315 billion at the end of Q3 2025, making no changes to its holdings during the quarter
• The company booked between $62 million and $80 million in profit on its bitcoin holdings due to price increases during Q3
• Tesla reported Q3 revenue of $28.1 billion, beating analyst estimates of $26.36 billion
• The company’s adjusted EPS of $0.50 fell short of Wall Street forecasts of $0.54
• New FASB accounting rules now require Tesla to recognize bitcoin gains or losses each quarter, unlike previous mark-to-market rules

Tesla maintained its position as one of the largest corporate bitcoin holders during the third quarter of 2025. The electric vehicle manufacturer reported gains on its cryptocurrency holdings while posting mixed operational results.

The company held 11,509 BTC at the end of September, valued at approximately $1.315 billion. This represents an increase from the $1.235 billion valuation three months earlier. Tesla made no purchases or sales of bitcoin during the quarter.

Bitcoin’s price rose roughly 5% during the three-month period, ending at around $114,000. This price movement allowed Tesla to book gains on its digital asset holdings. Reports vary on the exact profit figure, with sources citing between $62 million and $80 million in gains.

These bitcoin profits represent a small fraction of Tesla’s overall financial picture. The company reported adjusted EBITDA of $4.3 billion for the quarter. Tesla’s total cash and equivalents stood at $41.6 billion as of September 30.

Operational Performance

Tesla’s third quarter revenue reached $28.1 billion. This figure exceeded Wall Street estimates of $26.36 billion. The revenue beat provided some positive news for investors tracking the company’s core business operations.

However, Tesla’s adjusted earnings per share came in at $0.50. Analysts had expected $0.54 per share. The bitcoin gains are not included in these adjusted EPS calculations.

The company’s stock traded modestly lower in after-hours trading at $434 per share. This followed the release of the quarterly results.

Accounting Changes

Tesla now operates under new FASB accounting rules for digital assets. These rules require companies to recognize bitcoin gains or losses every quarter. The change marks a shift from previous requirements.

Under the old system, firms had to mark their holdings down to the lowest value reached during the reporting period. The new rules provide a more current snapshot of digital asset valuations. This is the second consecutive quarter Tesla has recorded gains on its bitcoin holdings.

The company originally acquired its bitcoin position in early 2021. Tesla has held the 11,509 BTC without changes for multiple quarters. The current holdings make Tesla one of the largest corporate holders of bitcoin worldwide.

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