- DJT
-5.11% - BTC-USD
-0.45% - CRO-USD
-0.42%
Trump Media and Technology Group reported a net loss of $238.1 million for the second quarter of 2026, driven largely by non-cash losses on its cryptocurrency holdings as Bitcoin prices fell during the period.
The company, which trades on the NYSE Texas and Nasdaq under the ticker DJT, held 9,477 Bitcoin valued at $557.1 million as of June 30, down from 9,542 Bitcoin at the end of 2025. The fair value of that position dropped from $836 million at the close of last year Trump Media also holds a position in the cryptocurrency Cronos, which suffered its own decline in value during the first half of the year
For the full first half of 2026, Trump Media recorded $360.6 million in realized and unrealized losses on digital assets and digital assets pledged. The loss for the second quarter alone on that line item was $116.7 million, reflecting a decline in Bitcoin and Cronos prices between March 31 and June 30, 2026.
A significant portion of the company’s Bitcoin was encumbered during the quarter. As of June 30, the company had encumbered 4,260.73 BTC as security against convertible notes, with an additional 2,077.34 BTC serving as collateral for its Bitcoin options strategy.
Revenue for the quarter reached $1.67 million, up 89% from $883,000 in the same period a year earlier. The increase came from advertising services tied to a barter agreement, subscriptions to the Truth+ streaming service, and management fees from Truth.Fi exchange-traded fund offerings.
The company’s Adjusted EBITDA loss, a non-GAAP measure, was $223.5 million for the quarter. Trump Media said the bulk of that figure consisted of non-cash items, including unrealized losses on digital assets and equity securities totaling $190.4 million, accreted interest of $11.7 million, and stock-based compensation of $8.1 million. Cash used in operating activities was $13.7 million, including $25.6 million in legal expenses tied to legacy litigation.
Trump Media ended the quarter with total assets of $2.0 billion, with roughly $1.9 billion of that in financial assets including cash, short-term investments, equity securities, digital assets, and related holdings.
Those earnings landed shortly after Trump Media, Crypto.com, and Yorkville Acquisition announced they were walking away from a planned joint venture — Trump Media Group CRO Strategy — that would have created a publicly listed vehicle for accumulating a sizable Cronos treasury, with the parties pointing to “prevailing market conditions and shifting business and stakeholder priorities” as the reason
Interim Chief Executive Officer Kevin McGurn said in a statement that the company has “refined” its approach to capital allocation and is making progress toward a proposed merger with energy company TAE Technologies, which Trump Media expects to complete in the fourth quarter of 2026.
