Tesla booked an $80 million profit on its Bitcoin holdings in the third quarter of 2025, driven entirely by price appreciation, as the company refrained from selling or adding to its crypto reserves. According to its quarterly report released on October 22, Tesla continues to hold 11,509 Bitcoin, now valued at approximately $1.31 billion, up from $1.23 billion in the previous quarter.
The gain was recognized under new fair-value accounting rules adopted earlier this year, which require digital assets to be reported at current market prices rather than historical cost. This adjustment allowed Tesla to record the $80 million under "other income," marking its strongest Bitcoin revaluation quarter since 2021.
Tesla's Bitcoin holdings have remained unchanged since early 2022, and the company is now the 11th largest corporate Bitcoin owner globally, ranking behind MicroStrategy and Galaxy Digital but ahead of Hut 8 Mining. This represents Tesla's second consecutive quarter of Bitcoin gains, reflecting the broader crypto market recovery in 2025.
In overall Q3 performance, Tesla reported total revenue of $25.18 billion, with automotive revenue rising 6% to $21.2 billion. However, net income fell 37% to $1.37 billion due to lower electric vehicle prices and a over 50% increase in operating costs, attributed to investments in artificial intelligence and R&D. Bitcoin-related gains are not included in adjusted earnings per share.
The report signals Tesla's long-term confidence in Bitcoin, which it has described as "a liquid alternative to cash." The company has not made new purchases since early 2022, when it briefly sold a portion to test liquidity before reclassifying Bitcoin as a strategic treasury asset. Separately, a wallet linked to SpaceX, another Elon Musk-led company, moved about $268 million worth of Bitcoin in what analysts believe was internal fund management rather than a sale.
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