According to a Monday filing with the US Securities and Exchange Commission, Tesla lost more than $140 million betting on Bitcoin last year. In 2022, the electric vehicle maker paid a $204 million impairment charge while earning $64 million from Bitcoin conversion.
“In the fiscal year ended December 31, 2022, we reported $204 million in impairment losses due to changes in the carrying value of our Bitcoin and gains of $64 million on certain bitcoin conversions by us,” Tesla wrote in the statement. The SEC filing comes less than a week after Tesla’s quarterly earnings report, which included no Bitcoin transactions but saw the value of its holdings fall, resulting in a $43 million loss for the fourth quarter of 2022.
