Tesla reported no change to its digital asset holdings throughout its Q2 2023 investor report, as seen in its shareholder deck on July 19.
That doc signifies that Tesla held $184 million price of digital belongings on June 30, the identical quantity that it held on the finish of March 2023 and December 2022.
Tesla’s final important change in digital asset holdings occurred within the final quarter of 2022 when its holdings fell from $218 million to $184 million. Previous to that, in July 2022, the agency mentioned that it offered a portion of its Bitcoin for $936 million; that sale amounted to about three-quarters of the Bitcoin that the agency initially bought in early 2021.
Regardless of the corporate’s stagnant Bitcoin holdings, public curiosity stays excessive in Tesla’s cryptocurrency coverage. Within the firm’s Q&A submission kind, a number of traders requested whether or not Tesla plans to just accept Bitcoin purchases — a fee methodology that CEO Elon Musk dedicated to re-enabling if Bitcoin mining turns into 50% reliant on renewable vitality. It’s unclear whether or not Musk or different executives answered these questions in the course of the earnings name.
Tesla noticed document income in Q2
Other than the corporate’s lack of change in Bitcoin holdings, Tesla’s newest report is notable because the agency reported document revenues of $25 billion in Q2. The corporate additionally highlighted its work on AI, together with its Dojo coaching computer systems, in its report.
Regardless of these constructive developments, Tesla inventory fell 0.71% immediately and dropped 4.90% after hours. Reviews from CNBC counsel that costs fell as Musk and different executives failed to supply specs and dates for upcoming autos and mentioned that manufacturing output would lower in Q3 amidst manufacturing facility upgrades and shutdowns.
The information additionally comes shortly after Senator Elizabeth Warren requested U.S. regulators to start an investigation into potential conflicts of curiosity between Tesla and Twitter — the latter of which was acquired by Musk in October 2022.
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