Automaker Tesla disclosed its financial results for the third quarter of 2025, revealing $80 million in unrealized gains from its Bitcoin investments. According to the report, the value of Tesla’s Bitcoin portfolio rose to $1.315 billion by the end of September, reflecting an 80.3% increase compared to Q3 2024.
Tesla currently holds 11,509 BTC, according to data from Arkham Intelligence, although the company’s own filings no longer specify exact holdings. The unrealized gain of $80 million marks a decline from Q2 2025, when Tesla reported $284 million in unrealized profits, but is a significant rebound from the $125 million unrealized loss recorded in Q1.
The company’s overall financial performance was mixed. Quarterly revenue reached $28.1 billion, surpassing the projected $26.4 billion. Gross profit totaled $5.05 billion, up 30.3% from Q2 2025 and slightly above Q3 2024. GAAP net income climbed to $1.37 billion, a 17.2% increase over the previous quarter, but 37% lower than the same period last year. Adjusted earnings per share came in at $0.50, slightly below market expectations.
Tesla attributed the decline in net income to lower electric vehicle prices and a roughly 50% increase in operating expenses, notably within its AI division. The mixed financial results led to a 0.8% drop in Tesla’s stock price during pre-market trading.
Since December 15, 2024, U.S. accounting standards require firms to report crypto assets at fair value rather than realized cost. As a result, companies like Tesla must reflect unrealized gains or losses on their balance sheets, providing a clearer picture of the performance of digital asset holdings.
Previously, Tesla had surpassed Japan’s Metaplanet as a top public Bitcoin holder, although fluctuations in net asset value (NAV) have since affected the company’s crypto portfolio valuation.
