Tesla generated $64 million after the sale of its bitcoin

The company reported significant profits during the second quarter of the year, due in part to bitcoin trading

During the second quarter of the year, the Tesla company reported a strong economic profit due in part to the decision to sell its assets in bitcoin.

Despite the fact that digital assets were down at the time, the company owned by Elon Musk generated profits in this sector of 64 million dollars.

Tesla posted earnings per share of $2.27 in the second quarter on revenue of $16.93 billion. Although profitability was down compared to the first quarter, it was up from year-ago levels. However, the company’s profitability was affected by rising inflation and growing competition for batteries.

However, Musk’s company still retains some 10,800 bitcoins in its accounting books, according to various specialized media. At today’s price, that amount represents about $237 million.

K. Tovar

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Source: Cointelegraph

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