Tesla Is Burning Through a Bitcoin Every Minute

It’s no secret that Tesla is burning through a lot of money at the moment—with the firm having only just increased its debut bond deal to finance production of the troubled Model 3, analysts are now warning that it will need to go looking for extra money to fund its other projects.

But as for how quickly it’s burning cash, Bloomberg has come up with a startling figure: $8,000 a minute. That’s almost a bitcoin’s worth (the current value is $8,285) every 60 seconds, or $480,000 an hour.

If Tesla (tsla) doesn’t bring in fresh funding, Bloomberg noted, its reserves will run dry in early August next year. That’s even slightly ahead of UBS’s recent prediction that the depletion would take four quarters…

Read Full: Tesla Is Burning Through a Bitcoin Every Minute