Tesla printed its Q3 2023 shareholder deck on Oct. 18, indicating that it continues to carry its Bitcoin steadiness because it directs sources to AI efforts.
The corporate reported $184 million in digital belongings, identified to be composed largely or solely of Bitcoin (BTC), for the quarter ending Sept. 30, 2023.
That quantity is the same as Tesla’s holdings for the three earlier quarters however represents a long-term lower as a consequence of earlier gross sales and worth modifications. Tesla initially bought $1.5 billion of Bitcoin in 2021, an quantity that after surpassed $2 billion in worth. Nonetheless, the corporate offered most of its Bitcoin in 2022, inflicting it to report simply $218 million in digital belongings for the quarters ending June 30, 2022, and Sept. 30, 2022.
In the identical shareholder deck, Tesla detailed its targets regarding its automobile and power companies and, considerably, its synthetic intelligence endeavors. It stated:
“Now we have greater than doubled the dimensions of our AI coaching compute to accommodate for our rising dataset in addition to our Optimus robotic undertaking. Our humanoid robotic is at present being educated for easy duties by means of AI relatively than hard-coded software program, and its {hardware} is being additional upgraded with the intention to deal with datasets.”
By way of normal earnings, the corporate reported $23.4 billion in income, down roughly 6% from $24.9 billion in Q2 2023. On each events, the corporate’s automotive enterprise accounted for the overwhelming majority of total income.
Traders wish to hear about crypto
A number of buyers have once more submitted a number of crypto-related questions, together with one on whether or not Tesla would add Bitcoin funds for its charging community and one other asking if Tesla’s Dojo supercomputer would make use of Bitcoin.
A number of folks requested whether or not the corporate plans to as soon as once more Bitcoin and crypto funds normally. That is according to Tesla CEO Elon Musk’s earlier promise to just accept Bitcoin as soon as the mining business is 50% reliant on renewable power.
Tesla’s shareholder name was ongoing at press time.
The publish Tesla maintains Bitcoin holdings whereas directing sources towards AI appeared first on CryptoSlate.
