Tesla’s Bitcoin holdings surged in value, climbing from a carrying value of $184 million to a fair market value of $1.08 billion. The company is

Tesla has reported a $600 million boost in its latest quarterly results, thanks to a recent change in accounting rules for digital assets.

Electric vehicle manufacturer Tesla reported a $589 million gain from its Bitcoin holdings after an accounting rule change in the US.

Tesla’s bottom line numbers were boosted by a $600 million one-time gain in “digital assets.” That added 20 cents a share in bottom-line earnings. Excluding that, EPS would have been closer to 55 cents,

Vaibhav Taneja acknowledged Tesla’s benefit from its Bitcoin holdings during the company’s Q4 2024 earnings call. CEO Elon Musk is a known proponent of cryptocurrency, so it doesn’t come as a shock that Tesla was holding on to a large chunk of Bitcoin.

The gain reflects a new accounting adjustment, lifting Tesla’s reported digital asset value to $1.076 billion from $184 million.

Tesla CFO Vaibhav Taneja noted that the automaker’s net income in Q4 was “impacted by a $600 million market benefit from bitcoin due to the adoption of a new accounting standard for digital assets.” He said that Tesla would adjust its other income in future reporting periods going forward.

The automotive company did not disclose its Bitcoin holdings in its Q4 2024 report. Instead, it disclosed a $600 million mark-to-market gain on “digital assets.” Still, according to Bitcoin Treasuries, Tesla holds 9,720 BTC, making it the sixth-largest publicly traded company with Bitcoin on its balance sheet.

Electric vehicle maker Tesla (TSLA) has reported that it held 9,720 Bitcoin (BTC) valued at $1.07 billion at the end of last year. Invest with