For the fourth quarter in a row, Tesla’s primary digital currency holdings remain unchanged.

In early 2021, Tesla purchased $1.5 billion worth of Bitcoin, and in the second quarter of last year sold nearly $936 million — approximately 75% of its digital assets. The total value of Tesla’s Bitcoin holdings increased by $22 million, rising from $321 million in Q1 2023. In the second quarter, the automaker did not sell any cryptocurrency.

Overall, the company earned more than $3.1 billion in net profit in Q2, generating $24.9 billion in revenue — a 47% increase compared to the same period last year, when revenue amounted to $16.9 billion.

For the second consecutive quarter, the company’s gross margin has declined (down 5.6% quarter-over-quarter and 27% year-over-year), highlighting the negative impact of falling prices on company profits.

Despite a recent positive delivery report showing that Tesla delivered 466,140 vehicles to customers over the last three months — an 83% increase compared to the same quarter last year — investors remain unimpressed with the company’s financial performance.

Due to production adjustments, Elon Musk warned that output may “slightly decrease” in the third quarter, but this will not affect Tesla’s plans to sell 1.8 million electric vehicles in 2023.