Tesla Doesn’t Sell a Single Bitcoin in Q3 as Crypto Stash Jumps 42% to $962 Million

Tesla Inc. (NASDAQ:TSLA) kept its Bitcoin (CRYPTO: BTC) intact through the first quarter, while reporting significant paper gains on the stash.

Tesla Reports Unrealized Profit

Tesla reported $962 million in digital assets on its balance sheet, up 42% quarter-over-quarter

The Elon Musk-led mobility giant reported paper gains of $288 million on its cryptocurrency holdings, snapping a three-quarter streak of paper losses.

Tesla reports its crypto holdings under the broad line item "digital assets" rather than disclosing a complete breakdown by asset.However, on-chain analytics firm Arkham Intelligence reports that its stockpile consists solely of Bitcoin, totaling 11,509 BTC, unchanged from several quarters.

At BTC’s closing price of $83,553.85 on Sept. 30, the total value was in line with Tesla’s reported digital asset holdings.

Tesla Shares Drop

Tesla is now the eleventh-largest corporate hoarder of Bitcoin, ahead of companies such as Block. Inc. (NYSE:XYZ) and Riot Platforms Inc. (NASDAQ:RIOT), according to BitcoinTreasuries.net.

Notably, Space Exploration Technologies Corp. (NASDAQ:SPCX) also held on its Bitcoin stash through the third-quarter.

Tesla reported third-quarter total revenue of $28.05 billion, flat from the prior year’s third quarter. The company reported adjusted earnings of 48 cents per share, beating a Street consensus estimate of 43 cents per share.

Price Action: As of this writing, BTC is up 0.20% in the last 24 hours to $82,859, according to Benzinga Pro. 

Tesla shares fell 3.72% in after-hours trading. The stock closed 3.41% higher at $386.47 during Wednesday’s regular trading session.

Benzinga’s Edge Stock Rankings indicate that TSLA maintains a favorable price trend in the short and medium terms, though its long-term trend remains weaker.

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