Tesla profits rose 34% on a bitcoin boost last quarter following an accounting rule change. Tesla's paper gains on bitcoin accounted for nearly $600 million of its net income this quarter.

Bitcoin made up a big chunk of Tesla's profits last quarter because of an accounting rule change that allowed the automaker to report its unrealized gains on the cryptocurrency as income in its ...

Tesla profits rose 34% on a bitcoin boost last quarter following an accounting rule change. Tesla's paper gains on bitcoin accounted for nearly $600 million of its net income this quarter. The ...

Fortitude is a wholly-owned DCG subsidiary spun out of the self-mining division of Foundry, a digital asset infrastructure firm founded in 2019. Bitcoin mining operations are offering large profits in ...

Tesla Inc reported a surprising $600 million bitcoin-related profits increase for Q4 (Quarter 4) 2024. This comes as a result of a change in the rules regarding how companies report digital assets.

Tesla’s reported net income for the fourth quarter increased significantly due to its Bitcoin holdings, which resulted from a recent rule change that affects how businesses account for digital assets.

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"Net income in Q4 was impacted by a $600 million mark-to-market benefit from bitcoin due to the adoption of a new accounting standard for digital assets," Tesla said. The company reported ...