Tesla made a profit of 80 million dollars with Bitcoin.

The electric vehicle giant Tesla reported a profit of 80 million dollars from its Bitcoin assets in the third quarter. This gain was recorded during a period when Tesla enriched its digital asset portfolio.

The U.S.-based automaker Tesla announced in its third-quarter earnings report that it attained a profit of 80 million dollars from its Bitcoin (BTC) investments. Although the company did not change the amount of Bitcoin it holds during the quarter, the increase in the Bitcoin price boosted the value of Tesla's digital assets. Tesla stated that as of September 30, it holds 11,509 Bitcoins, with a total value of approximately 1.35 billion dollars. This amount represents a significant increase compared to the previous quarter's 1.235 billion dollars value.

The company's financial situation is also noteworthy. Tesla's total cash and cash equivalents were reported to be 41.6 billion dollars. Quarterly revenues of 28.1 billion dollars exceeded analyst expectations, while the adjusted earnings per share (EPS) was recorded at 0.50 dollars, falling short of the 0.54 dollar forecast.

Tesla reflected its digital asset gains on its balance sheet for the first time under the new accounting rules from FASB. This new standard allows companies to report value increases in assets like Bitcoin as profits. In the previous system, only decreases in asset values could be recorded as losses.

However, after the earnings report, Tesla's shares declined by around %1 after market close, dropping to 434 dollars. According to experts, this decline is due to automotive sales margins being lower than expected, despite the profit increase stemming from Bitcoin. This situation is an important point for investors to consider.