Tesla Writes Down $170 Million in Bitcoin Impairment Charges in Q2 2022

As revealed in an SEC filing on Monday, Elon Musk’s car manufacturer Tesla recorded a $170 million (roughly Rs. 1,360 crore) impairment charge for Bitcoin on its balance sheet during the first half of 2022. It also netted $64 million (roughly Rs. 512 crore) in gains from certain sales of the asset.