SpaceX Beats Revenue Estimates But Suffers Massive Crypto Loss

SpaceX's second-quarter revenue topped Wall Street estimates at $7.8 billion, 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's Q2, while adjusted earnings before interest, taxes, depreciation and amortization nearly tripled to $3.5 billion.

However, SpaceX's value of its 18,712 BTC treasury dropped by $540 million in six months, with a current value of $1.10 billion as of June 30.

The decline represents a rough 33% price slump on the company's full stash of BTC and makes it one of the largest public Bitcoin holders.