Musk’s SpaceX Earnings Rocket Higher as Bitcoin Stash Holds Firm

SpaceX delivered a blockbuster third quarter, generating $14.6 billion in revenue, $4.4 billion in net income, and $8.8 billion in adjusted EBITDA. Behind those extraordinary earnings, Elon Musk’s company reported $1.573 billion in digital assets, consistent with its previously disclosed bitcoin holdings of 18,712 BTC. Artificial intelligence (AI) now leads the company’s revenue machine, while Musk’s personal fortune has reportedly climbed to $925 billion. SpaceX came out swinging Tuesday, Oct. 20, delivering third-quarter earnings that left Wall Street’s expectations in the dust. Revenue climbed 161% to $14.6 billion, while the aerospace and AI powerhouse transformed a $1.1 billion year-earlier loss into $4.4 billion in profit. But buried deeper in the financial statements was another billion-dollar figure worth examining: $1.573 billion in digital assets, consistent with the company’s longstanding bitcoin treasury.

First reported by Bitcoin.com News. This page is a short excerpt; the full text is theirs.