SpaceX Sees $540 Million Bitcoin Loss Despite Beating Earnings Expectations

SpaceX's Bitcoin holdings have taken a massive hit, losing over $540 million in just six months. The company has refused to sell any of its coins despite this significant loss.

This comes as SpaceX posted its first quarterly results as a public company on Tuesday, beating Wall Street's revenue expectations. However, the value of its Bitcoin holdings fell by more than half a billion dollars during this time, representing a 33% drop.

Despite this volatility, SpaceX is doubling down on its investment in AI infrastructure, with costs reaching $18.4 billion. This move has seen the company's stock tumble despite its strong earnings performance.