Block and Tesla remain profitable on Bitcoin treasuries while peers bleed

Tesla holds 11,509 BTC with a total cost basis of roughly $386 million to $387 million. Block holds approximately 9,117 BTC, accumulated between 2020 and 2021 at an original outlay of about $220 million. Both positions remain profitable in the current market, while many other corporate holders face unrealized losses because their average acquisition prices sit well above what earlier buyers paid. How they got here Tesla’s Bitcoin story is actually a tale of two decisions. The company originally deployed around $1.5 billion into Bitcoin in early 2021. Then, in Q2 2022, Tesla sold roughly 75% of that position, leaving the company with a leaner, lower-average-cost remainder. Tesla reported an $80 million gain from its Bitcoin holdings in Q3 2025, a figure that reflects how that restructured position has performed under fair-value accounting rules that now require companies to mark crypto assets to market each quarter. Block’s path was steadier. Jack Dorsey’s payments company began buying Bitcoin in 2020 and continued through 2021, accumulating its position gradually. The company has continued making small dollar-cost averaging additions since then, keeping its holdings growing increme...