Tesla reported impairment losses of approximately $101 million last fiscal year due to value changes in its bitcoin holdings, according to a regulatory filing filed by the electric vehicle manufacturer on Monday.

The company shared its dealings and information with the most-traded cryptocurrency worldwide in a 10K annual financial performance report filed with the Securities and Exchange Commission.

Tesla stated that in 2021, the company suffered impairment losses of approximately $101,000,000 due to changes in bitcoin’s carrying value and $128 million from certain bitcoin sales.

A company may take an impairment charge if it sees a decrease in the carrying price of a particular asset on its balance sheet.

Tesla claimed that $128 million in profits resulted from the sale of a portion its holdings in March 2021.

In January 2021, the company made a initial investment of $1.5 billion in digital assets. These holdings were worth approximately $500 million more at the end of 2021, Tesla claiming that the fair market value was $1.99billion.

Bitcoin’s value climbed by 60% to $46,000 last year.

According to Monday’s filing, “We believe in long-term potential digital assets both as investments and as liquid alternatives to cash,” according to Monday’s filing. Tesla stated last year that it had revised its investment policy in order to allow for more flexibility and maximize returns on cash that wasn’t required to maintain adequate operating.

Tesla accepted bitcoin for a time last year, but Elon Musk, CEO of Tesla, said that it stopped the practice in May due to environmental concerns “about the rapidly increasing use fossil fuels for bitcoin mining and transactions”. Later, he stated that Tesla would resume crypto payments once mining is more efficient.

Tesla isn’t the only company that has suffered a bitcoin-related impairment. MicroStrategy, a business enterprise software company, logged a $146.6million charge to cover its bitcoin holdings for quarter four of 2021.

Bitcoin’s 2022 price has fallen by 7%, and it traded at $43,000 Tuesday.