Select Page

Tesla Reported No Changes in Digital Assets in Q2 But Recorded A Bitcoin-Related Impairment of $23 Million

Tesla Reported No Changes in Digital Assets in Q2 But Recorded A Bitcoin-Related Impairment of $23 Million
This article is added for educational purpose only. All credit goes to the respected author of this article. All In One Crypto App do not hold any liabilities of this article. You can get the source link at the end of the article content.

Tesla has posted a bigger second-quarter profit than expected, and unlike the Q1, this time, there were no changes in digital assets.

As the CEO of the electric car maker, Elon Musk, said last week at the B-Word conference, he “might pump,” but he does “not dump.” At the time, the billionaire also revealed that he is personally invested in BTC, ETH, and DOGE and that his other company SpaceX is also holding bItcoin for the long term.

Musk had further said that Tesla would most likely restart accepting Bitcoin as payment once they have done a little bit more due diligence to confirm that the percentage of renewable energy usage in Bitcoin mining is at or above 50%.

Meanwhile, the company’s total revenue grew 98% YoY in 02, primarily driven by substantial growth in vehicle deliveries.

At the same time, Model S and Model X deliveries were reduced in the second quarter, leading to a decline of 2% YoY in-vehicle ASP, due to the product updates and China-made vehicles becoming a larger percentage of their mix.

Operating income also improved to $1.3 billion, mainly due to volume growth and cost reduction. Positive impacts, however, were partially offset by growth in operating expenses that includes Bitcoin-related impairment of $23 million.

This was for the first time since late 2019 that Tesla’s profits didn’t rely on sales of environmental credits to other automakers.

Musk, however, said that a global chip shortage that led to temporary shutdowns of their factory remains serious. As such, Tesla has delayed the launch of its Semi truck program to 2022 due to the limited availability of battery cells and to focus on starting factories.

In other news, on Monday, the speculation around Amazon planning to accept Bitcoin was put to rest as the e-commerce giant denied the media report.

“Notwithstanding our interest in the space, the speculation that has ensued around our specific plans for cryptocurrencies is not true,” said a spokesperson from Amazon. “We remain focused on exploring what this could look like for customers shopping on Amazon.”

The tech giant has also posted a job opening for a digital currency and blockchain product lead.

The post Tesla Reported No Changes in Digital Assets in Q2 But Recorded A Bitcoin-Related Impairment of Million first appeared on BitcoinExchangeGuide.

 

Source: BitcoinExchangeGuide

 

All In One Crypto App presents a unique dynamic crypto course that allows you to become a profitable and successful trader. Download Now

Don't forget to share your review/suggestions for the android app.

All In One Crypto App is an execution-only service provider. The material provided on this website is for information purposes only and should not be understood as investment advice. Any opinion that may be provided on this page does not constitute a recommendation by All In One Crypto App or its agents. We do not make any representations or warranty on the accuracy or completeness of the information that is provided on this page. If you rely on the information on this page then you do so entirely on your own risk.es here

Categories

Select a Sub Category
category
6151f67352f74
0
1
Loading....

Reviews

All In One Crypto App

Made $234 profit with Free Signals from $50

This is the best useful app on my phone. Started trading with $50 and in 5 weeks I was up to $234 just with the free signals. I will recommend it to any new person that wants to try trading crypto. Link to Review

Asoluka Chimdindu

Free User
All In One Crypto App

Good Support

This app is one of the best for crypto currency trading signal for experts and beginal with free and premier with auto follow trading bot all the signal is excellent with accurate technical analysis and fundamental I really like the way they guide and support. Link to Review

olaplus olaplus

Premium User
All In One Crypto App

Accurate Trading Signals

I was premium member of this channel back in 2018 when there was no app. Thr signals were too good, more than 90% accuracy. Now with this app and newly introduced auto trading bot, it will be awesome. Too the moon. Link to Review

Yogesh Patil

Premium member
All In One Crypto App

Awesome and Accurate Signals

Very glad to use this app. The crypto signals was awesome and accurate with detailed explanation and visual information. The admin also helpful and nice. Link to Review

soon cheong

Free User
All In One Crypto App

User Friendly App

Signals are great. I love it. App also friendly to use… Nice job guys Link to Review

Olawunmi Dilureni

Premium Subscriber