Trump Media & Technology Group, the parent of Truth Social, reported a $238.1 million net loss for Q2 2026 as declines in the value of its cryptocurrency and other investments weighed on results.
The loss compared with a $20 million loss a year earlier and was driven largely by non-cash mark-to-market losses on digital assets and equity securities. Revenue rose to $1.7 million from roughly $900,000 a year earlier.
Trump Media has been building a large digital-asset treasury, but its Bitcoin holdings have fallen sharply from the levels accumulated during its initial push into cryptocurrencies. The company bought 11,542 Bitcoin for about $1.37 billion and has since moved 7,281 coins, according to on-chain analysis.
The company’s crypto strategy has generated about $361 million in losses, with the decline coming as Bitcoin prices fell from the levels at which Trump Media accumulated much of its holdings.
As of June 30 2026, Trump Media reported holding about 9,477 Bitcoin, alongside roughly 2,077 Bitcoin pledged to its yield-management programme and about 14.4 million shares of the iShares Bitcoin Trust ETF. The company said it subsequently sold part of its ETF position to acquire an additional 2,534 Bitcoin.
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Trump Media held more than $400 million in cash and short-term investments at the end of the quarter, while its Bitcoin-related assets remained a significant component of its balance sheet.
The results underscore the risks facing companies that have adopted Bitcoin as a major treasury asset, with swings in the cryptocurrency’s price capable of producing substantial accounting losses even when the underlying assets have not been sold.
