Tesla Q2 Financial Report: Bitcoin Holdings Remain Unchanged for Eight Consecutive Quarters
Tesla's latest Q2 2024 financial report shows that the company's total revenue for this quarter is $25.5 billion, higher than the expected $24.63 billion. The net profit under Generally Accepted Accounting Principles (GAAP) is $1.5 billion, with a free cash flow of $1.34 billion.
In addition, Tesla did not buy or sell any Bitcoin in this quarter, marking its eighth consecutive quarter without any trading activity. Tesla currently holds about 9,720 Bitcoins, with a purchase cost of approximately $337 million. The last time Tesla reduced its Bitcoin holdings was in Q2 2022 when it sold over 30 thousand Bitcoins at a price of $936 million, accounting for about 75% of its Bitcoin holdings at the time. Tesla initially purchased Bitcoin worth $1.5 billion in early 2021.
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