SpaceX crypto holdings fall US$539M

• SpaceX reported US$7.8 billion quarterly revenue, beating Wall Street’s US$6.81 billion forecast.
• Its digital asset holdings fell US$539 million to US$1.098 billion, while shares dropped more than 8% after hours.
• SpaceX spent US$18.369 billion during the quarter, including US$15.828 billion on its artificial intelligence business.

SpaceX reported US$7.8 billion quarterly revenue, beating Wall Street’s US$6.81 billion forecast in its first public earnings report.

Digital asset holdings fell 33% to US$1.098 billion from US$1.637 billion at the end of December.

SpaceX reported 92% year-on-year revenue growth across its space, connectivity and artificial intelligence businesses.

Starlink subscribers doubled to 12 million, while AI revenue jumped 247% year-on-year to US$2.561 billion.

Following the results, SpaceX shares fell more than 8% after hours after closing 9.43% higher at US$125.33.

SpaceX held an estimated 18,712 Bitcoin (CRYPTO:BTC), although the company did not disclose its coin count in the results.

Quarterly capital spending reached US$18.369 billion, including US$15.828 billion for AI, while cash and securities totalled US$100 billion.

At the time of reporting, Bitcoin price was $64,056.65.