The electric car maker's extensive Supercharger system allows drivers to charge their vehicles in minutes instead of hours, but right now they only work for Teslas and not other brands.
With gas prices reaching all-time highs for the holiday weekend, the prospect of going electric has never been more attractive.
Musk has been an avid user — and critic — of the social media platform for years. The brand could use some "shaking up," one analyst says.
There's a disconnect between what CEO Elon Musk says and what he does, according to auto journalist Jamie Kitman.
"We could have told him about Bitcoin and energy use. Why has Musk changed his mind now?"
Bitcoin spiked 14% and appeared to briefly hit a new all-time high. Shares of Tesla moved higher as well.
Quarterly earnings may also reflect how important China has been as a market for the company's electric vehicles.
The announcement fell short of what investors were expecting.
Investors will see more shares, but at a lower price.
They've broken ground on a battery facility that could help the utility meet state energy storage requirements.