Tesla Records $112M Bitcoin Impairment in Q2 2026 Without Selling Any Coins
In its second-quarter earnings report for 2026, Tesla recorded a $112 million impairment loss on its Bitcoin holdings due to the cryptocurrency's price decline. Despite this accounting charge, the company did not sell any of its remaining 11,509 BTC during the quarter as Bitcoin prices fell roughly 14%. The value dropped from around $83,000 at the start of Q2 to approximately $58,000 by June's end. Tesla’s impairment loss is an accounting charge under U.S. GAAP and does not reflect a realized sale or cash outflow. Tesla first entered the Bitcoin market in early 2021 with a $1.5 billion investment but later suspended accepting BTC as payment due to environmental concerns. In Q2 2022, Tesla sold about 75% of its holdings amid macroeconomic pressures and has held steady on its remaining position for nearly four years without further transactions or sales. The company's GAAP net income reached $1.11 billion despite the Bitcoin drag, while non-GAAP EPS came in at $0.33—below analyst expectations but with revenue beating estimates.
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Topics: Bitcoin Earnings Report GAAP Impairment Loss Tesla