Key Highlights
- Trump Media disclosed a first-quarter net deficit of $405.9 million against revenue of only $871,200.
- Unrealized Bitcoin write-downs of $244 million and investment losses of $108.2 million dominated the financials.
- The firm maintains 9,542 BTC purchased at a $1.13 billion cost basis, valued at merely $647 million by quarter’s close.
- Top-line growth registered only 6% annually; former CEO Devin Nunes departed April 22.
- DJT shares have plunged over 90% from their $97.54 peak recorded in early 2022.
Trump Media & Technology Group unveiled a staggering $405.9 million quarterly deficit for the first three months of 2026. This represents a dramatic escalation from the $31.7 million loss recorded during the comparable 2025 period.
The organization generated a mere $871,200 in top-line revenue throughout the quarter. While this figure represents a 6% uptick compared to the prior year’s opening quarter, it fails to offset the nearly $406 million shortfall.
DJT shares were recently changing hands around $8.93. The equity has surrendered more than 90% of its market value since reaching its zenith of $97.54 during early 2022.
Trump Media & Technology Group Corp., DJT
Cryptocurrency holdings accounted for the lion’s share of the financial damage. Trump Media recorded $244 million in unrealized depreciation on its Bitcoin portfolio, alongside an extra $108.2 million in investment write-downs primarily connected to equity positions.
The organization maintains 9,542.16 BTC in its treasury. These digital assets were acquired at an average entry point of approximately $108,519 per coin — coinciding with last summer’s market zenith — establishing a cumulative cost foundation of $1.13 billion.
By March 31, this portfolio commanded a valuation of just $647 million. The differential between acquisition cost and current market value: approaching $500 million.
Bitcoin has experienced a subsequent rebound. The holdings now carry an approximate value of $770 million with BTC trading north of $80,000.
Cronos Token Holdings Compound Financial Strain
Trump Media additionally maintains 756.1 million Cronos (CRO) tokens in its portfolio. The corporation invested $113.9 million to acquire these assets through a Crypto.com arrangement finalized last year. At the conclusion of the quarter, their market value stood at $53 million.
The CRO acquisition formed part of a strategic alliance integrating the token into Truth Social and Truth+ incentive programs. This partnership has yet to yield positive financial results.
Regarding the company’s Bitcoin reserves, 4,260.73 BTC — carrying a quarter-end valuation of approximately $289 million — serves as security for convertible debt instruments. An additional 2,000 BTC functions as collateral associated with covered call strategies deployed to mitigate volatility exposure.
Notwithstanding the substantial losses, operational cash generation posted a positive $17.9 million for the three-month period. The firm derived benefits from premium income generated through options written against its pledged Bitcoin reserves.
Aggregate financial assets climbed to $2.1 billion, representing triple the magnitude from twelve months earlier.
Revenue Composition Details
Media operations contributed $810,100 to total revenue. Truth.Fi, the company’s exchange-traded fund division, produced $61,100 in advisory fees. These combined sources constitute the $871,200 aggregate.
The enterprise secured $2.5 billion in capital for its Bitcoin treasury initiative last year, subsequently announcing a $2 billion Bitcoin allocation in July 2025.
Former CEO Devin Nunes resigned from his position on April 22. The board has not yet designated a permanent successor.
American Bitcoin, the mining operation co-established by Eric Trump with backing from Donald Trump Jr., reported an $81.7 million quarterly deficit. The operation successfully mined a record 817 BTC throughout the period.
Get 3 Free Stock Ebooks
Discover top-performing stocks in AI, Crypto, and Technology with expert analysis.
- Top 10 AI Stocks - Leading AI companies
- Top 10 Crypto Stocks - Blockchain leaders
- Top 10 Tech Stocks - Tech giants
