In the spring of 2021, Tesla management invested $1.5 billion in Bitcoin. However, since then the company has sold a significant part of the coins and now has 9,720 BTC worth $184 million on its balance sheet.
Tesla’s total revenue for the third quarter was $23.35 billion, up 9% from the same period last year. Operating expenses were $2.41 billion, and development and research expenses increased 58% year-over-year to $1.16 billion.
In addition, the company paid attention to the field of artificial intelligence – the report talks about doubling computer power for AI projects.
Let us recall that the last sale of Tesla bitcoins took place in the second quarter of 2022. Then Elon Musk’s company sold BTC worth over $900 million. Thus, the reserves of the first cryptocurrency in the company’s accounts have not changed for 5 quarters in a row.
Source: Bits
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