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Tesla sees $600m bitcoin surge after new digital assets rule
Tesla reported an increase in net income for the fourth quarter, primarily due to a new policy on accounting for digital assets.
The Financial Accounting Standards Board (FASB) now mandates that companies mark digital assets to market each quarter.
This adjustment resulted in a US$600 million mark-to-market gain, contributing 68 cents to Tesla’s earnings per share for the quarter.
According to Tesla’s earnings release on Jan. 29, the carrying value of the company’s digital asset holdings rose from US$184 million in previous quarters to US$1.08 billion for the December period.
Recent Tesla developments
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30-Jan-2025 ⚡ Tesla targets affordable EVs, paid ride-hailing in 2025
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28-Jan-2025 🚗 Tesla’s new low-cost EV to drive 30% growth in 2025
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28-Jan-2025 ⚖️ Tesla joins legal challenge against EU tariffs on EVs
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26-Jan-2025 🚗 Tesla, BYD to launch new SUVs to boost Japan’s EV market
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24-Jan-2025 🚙 Tesla to deliver revamped Model Y in US for $60k
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