But the electric carmaker’s profits were higher than expected, after price increases on some of its best-selling cars partially offset the impact of the manufacturing disruption in Shanghai. The company outlined plans for a strong recovery in the coming months, telling shareholders it was “focused on a record second half of 2022”. Having disclosed a $1.5 billion investment in bitcoin last February, Tesla has now converted most of it into traditional cash. The company raised $936 million by reducing its interest in the second quarter as the world’s largest cryptocurrency fell sharply. The exploitation
