The unrealized loss cut GAAP earnings by $0.02 a share. Tesla added back the $112M in its adjusted EBITDA calculation, keeping the hit non-cash. The next filing will reveal any Bitcoin sales.
Tesla recorded a $112 million unrealized loss on its digital asset holdings in the second quarter, a write-down that reduced GAAP earnings by $0.02 a share. The carrying value of its crypto stack fell to $674 million at June 30 from $786 million three months earlier, the company said in its Q2 shareholder update.
Under the FASB crypto accounting standard that took effect earlier this year, Tesla must mark its digital holdings to fair value each quarter and recognize changes in net income. That makes the P&L swing symmetric: rising prices generate gains, falling prices produce losses, and neither requires a sale.
Tesla added the full $112 million loss back when it calculated adjusted EBITDA, which came in at $3.273 billion. The paper hit thus left cash flow untouched and the balance sheet in the same shape it started the quarter.
The $674 million digital-asset balance represented about 0.45% of Tesla’s $148.5 billion in total assets at quarter-end. That relative size means the company is not running a Bitcoin treasury strategy akin to MicroStrategy. The exposure is modest enough that even a 50% crypto drawdown would move Tesla’s total assets by less than a quarter of a percent.
Tuesday’s filing also shows the flip side of the fourth-quarter 2024 fair-value boost, when Tesla reported a $600 million GAAP benefit from the same rule. The Q2 reversal erases about 19% of that earlier gain.
Tesla did not disclose a Bitcoin unit count in the shareholder deck. The company’s investor-relations page listed no Q2 Form 10-Q as of Wednesday. The next quarterly filing, due by July 31, 2026, should reveal whether Tesla held, sold, or bought any coins during the period.
Drafted by a large language model from the source reporting linked above, then screened by automated publishing checks. It is not read by a journalist before publication. Some articles cite our Alpha Score. Verify prices and figures against the original source. Educational coverage, not personalized advice.