Tesla posted a $112 million after-tax impairment loss on its Bitcoin holdings in its second-quarter earnings report, the company disclosed Wednesday. The electric vehicle maker's Bitcoin stash — 11,509 BTC — hasn't changed since it sold off 75% of its original stake back in 2022. At current prices around $66,500, the position is worth roughly $765 million.
The $112 million charge
Tesla's Q2 non-GAAP earnings per share came in at $0.33, missing the consensus estimate of $0.55. Revenue hit $28.2 billion, beating expectations of $27.6 billion. Free cash flow was negative at -$1.1 billion. The impairment loss adds to the pressure on the bottom line, though Tesla remains one of the largest publicly traded corporate Bitcoin holders.
Bitcoin holdings unchanged
Tesla first bought Bitcoin in early 2021, then sold a chunk in 2022. It hasn't touched the remaining 11,509 BTC since. That's a deliberate hold — or maybe just a decision not to sell into a down market. Either way, the position is static.
Bitcoin price action
Bitcoin is consolidating in a range between $60,000 and $66,500. The recent swing low was near $58,000, with resistance near the low $80,000s. If Bitcoin holds above $66,500, the next upside target is $73,000 to $75,000. A daily close below $60,000 could reopen the $55,000 to $58,000 support zone. The price is down about 0.6% in the last 24 hours.
Bitcoin Hyper presale
Separately, Bitcoin Hyper ($HYPER), a Bitcoin Layer-2 with Solana Virtual Machine integration, has raised $32.9 million in its presale at a token price of $0.0136835. The project offers staking at a high APY for early participants. It's a different corner of the ecosystem, but it shows capital still flowing into Bitcoin-adjacent infrastructure.
Tesla's next earnings report will show whether it holds or sells. For now, the Bitcoin stays put.
