Tesla reported a 16% year-over-year decline in automotive revenue for the second quarter, though earnings were bolstered by a significant appreciation in its cryptocurrency portfolio. The company recognized a $1.23 billion gain from Bitcoin holdings, contributing positively to its income statement amid challenging conditions in the electric vehicle market.
Holding 11,509 BTC, Tesla maintains its position as the tenth-largest corporate Bitcoin holder among publicly traded companies. Market volatility continues to impact quarterly results, mirroring the inherent price swings of the major digital asset held on its balance sheet.
Concurrently, Tesla unveiled its new Optimus robot-powered diner, signaling strategic expansion into artificial intelligence and robotics beyond automotive manufacturing. Priced at approximately $21.50 per meal, the upscale concept targets tech enthusiasts seeking novel experiences featuring humanoid automation.
The development reinforces Tesla’s standing within the ‘Magnificent 7’ tech conglomerates. Continued investments in cryptocurrency holdings, AI infrastructure, and robotic applications underscore the company’s multifaceted approach to future growth beyond traditional vehicle production.