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Tesla’s Bitcoin Dump Leaves Accounting Mystery in Its Wake

This is what we know, based on the company’s shareholder letter: The sale added $936 million in cash to its balance sheet, but impairments impacted the company’s income. The company’s remaining pot of digital assets as of June 30 was worth $218 million, a reduction of more than one billion dollars from the previous quarter. The company booked a “depreciation, amortization, and impairment” charge of $922 million, but it didn’t break out what’s captured in that figure. The 30-page slide deck, of which nine are pictures, mentions Bitcoin twice.

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