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Tesla Sold $272M Bitcoin In The First Quarter And Saw A "$101M Positive Impact"
Summary: Tesla's earnings report for Q1 2021 showed that the company sold $272 million in Bitcoin in the first quarter, still holding about $1.33 billion of BTC in its balance sheet. Tesla mentioned a $101 million "positive impact" as a result of its Bitcoin sale, said: "Year over year, positive impacts from volume growth, regulatory credit revenue ...
Tesla's earnings report for Q1 2021 showed that the company sold $272 million in Bitcoin in the first quarter, still holding about $1.33 billion of BTC in its balance sheet.
Tesla mentioned a $101 million "positive impact" as a result of its Bitcoin sale, said: "Year over year, positive impacts from volume growth, regulatory credit revenue growth, gross margin improvement driven by further product cost reductions and sale of Bitcoin ($101M positive impact, net of related impairments, in Restructuring & Other line), were mainly offset by a lower ASP, increased SBC, additional supply chain costs, R&D investments and other items. Model S and Model X changeover costs negatively impacted both gross profit as well as R&D expenses."
Bitpush previously reported that Tesla purchased $1.5 billion in Bitcoin in February 2021.
By Mary Liu
Tags: Bitcoin,Tesla
Link: Tesla Sold $272M Bitcoin In The First Quarter And Saw A "$101M Positive Impact" [Copy]
