Tesla's Q3 profit increased by approximately $80 million due to changes in the fair value of Bitcoin

ChainCatcher news, according to CoinDesk, Tesla (TSLA) did not change its holding of 11,509 bitcoins (BTC) in the third quarter, confirming approximately $80 million in gains due to the price increase, with a digital asset valuation of about $1.35 billion at the end of the period.

The company's Q3 revenue was $28.1 billion, exceeding market expectations of $26.36 billion; adjusted earnings per share were $0.50, below the expected $0.54. According to the new FASB rules, the company must recognize the fair value changes of crypto assets on a quarterly basis. After-hours stock price fell slightly to about $434.