SpaceX Beats Forecasts, But Bitcoin Holdings Take $540 Million Hit

SpaceX, led by Elon Musk, posted $7.8 billion in revenue for Q2, beating analyst forecasts of $6.9 billion. This represents a 92% increase from the same period last year.

The company's net loss narrowed to $541 million from $1.0 billion in the previous year. Adjusted earnings before interest, taxes, depreciation, and amortization nearly tripled to $3.5 billion.

However, the value of SpaceX's 18,712 BTC treasury dropped by $540 million in six months, falling to $1.10 billion as of June 30. This represents a 33% price slump on the company's full stash of BTC.