Tesla Gains $80M on Bitcoin in Q3, Keeps 11,509 BTC Untouched Amid Market Rally

Tesla’s Bitcoin bet continues to pay off. The electric vehicle giant recorded an $80 million gain on its Bitcoin holdings in Q3 2025 — its largest crypto revaluation boost since 2021 — while maintaining its long-held position of 11,509 BTC.

The company’s third-quarter earnings report, published on Oct. 22, showed that its Bitcoin stash, valued at $1.31 billion, climbed from $1.23 billion in Q2. The increase came solely from Bitcoin’s price appreciation, as Tesla made no new purchases or sales during the period.

Tesla’s digital asset holdings have remained unchanged since early 2022, but their paper value has risen sharply alongside Bitcoin’s resurgence in 2025.

Tesla began applying fair-value accounting earlier this year, a change that requires digital assets to be reflected at current market prices rather than their historical purchase cost. The adjustment allowed the automaker to recognize an $80 million unrealized gain under “other income,” marking its strongest Bitcoin-related quarter in four years.

The updated reporting standard has helped clarify the real-time impact of Bitcoin’s price movements on Tesla’s balance sheet, a transparency shift welcomed by investors tracking corporate crypto exposure.

With its 11,509 BTC, Tesla now ranks as the 11th largest corporate Bitcoin holder globally — sitting behind MicroStrategy, Galaxy Digital, and Block, but ahead of mining firms like Hut 8.

This also marks Tesla’s second consecutive quarter of Bitcoin gains, mirroring the broader digital asset market recovery throughout 2025.

Profits Fall Despite Crypto Boost

Tesla reported total Q3 revenue of $25.18 billion, a 6% increase year-over-year, with automotive sales contributing $21.2 billion. However, net income dropped 37% to $1.37 billion, or $0.39 per share, compared to $2.17 billion, or $0.62 per share, in the same period last year.

The company attributed the decline in profitability to lower vehicle prices and rising operational costs, which surged more than 50% amid major AI and R&D investments.

While Bitcoin gains contributed to other income, they were excluded from Tesla’s adjusted earnings per share, aligning with standard accounting treatment for non-operational assets.

Tesla first entered the crypto market in February 2021, when it purchased $1.5 billion in Bitcoin, becoming one of the first major U.S. corporations to hold the asset on its balance sheet. It briefly sold a small portion later that year to “test liquidity,” before reclassifying Bitcoin as a strategic treasury asset.

Despite significant market volatility and broader crypto downturns, Tesla has held firm through each cycle — signaling long-term conviction in Bitcoin as what it calls a “liquid alternative to cash.”

Meanwhile, blockchain data from Arkham Intelligence revealed that a wallet associated with SpaceX, another Elon Musk-led company, recently moved about $268 million in Bitcoin to two new addresses. Analysts described the transfers as internal fund management rather than asset liquidation.

Tesla’s steady hand in holding Bitcoin through turbulent cycles — now rewarded with its biggest revaluation gain in years — underscores a broader corporate trend: digital assets are gradually becoming a normalized component of balance sheets, even for global blue-chip firms navigating economic headwinds.