Elon Musk’s Tesla (TSLA) seemed to take advantage of a new accounting rule that allows the digital assets to be marked for the market every quarter.

The company’s earnings report in the fourth quarter shows its 9,720 Bitcoin worth $ 1,076 billion from the end of 2024. That’s up from what had been $ 184 million in several quarters before. Alongside this change, Tesla also recorded a GAAP income increase of $ 600 million on its digital holdings. For perspective, the company had the total income of $ 2.3 billion in the fourth quarter.

A new rule from Financial Accounting Standards Board (FASB) requires that business owners of digital assets begin to mark these assets to market every quarter, by the first quarter of 2025. Companies could take advantage of the new rule before it in their own estimates , which Tesla has proven to do.

Prior to this new rule, business owners of digital assets were required to report these possessions on what was their lowest valuation at the time of ownership.

Tesla reported overall adjusted EPS of $ 0.73 in the fourth quarter, and lacked estimates for $ 0.76. Nevertheless, shares are higher by 3.5% in after hours of trade.

Tesla has 9,720 BTC according to Bitcoin Treasuries, making it the sixth largest listed company that has Bitcoin on its balance.