In its update to shareholders, the company reported a purchase of $1.5 billion of “digital assets” in the quarter, as well as $272 million in proceeds from such sales.
The sales serve as a fresh reminder that for all of Tesla’s growth, its automotive division is still lagging in terms of profitability.
The company’s auto business has been impacted by the pandemic, and a shift in preference toward newer, lower-margin models as its higher-priced Models S and X age.