Trump Media reports $238M net loss in Q2 2026 as Bitcoin holdings drag down balance sheet

Trump Media & Technology Group, the parent company of Truth Social, just posted a quarterly net loss that is roughly 140 times its revenue. The company reported a $238.1 million net loss for Q2 2026, driven almost entirely by the plummeting value of its Bitcoin stash. Revenue came in at $1.7 million for the quarter, up 89% year-over-year from $883,300. Under normal circumstances, nearly doubling your revenue would be cause for celebration. When your losses multiply by a factor of twelve in the same period, the champagne stays corked. Bitcoin bites back The culprit behind TMTG’s eye-watering loss is straightforward: $190.4 million in non-cash unrealized losses on digital assets. Of that figure, $116.7 million was directly tied to the decline in Bitcoin’s price, which fell approximately 13% during the quarter to around $58,800. TMTG’s total net loss in Q2 2025 was $20 million, meaning the deficit ballooned by more than 1,000% year-over-year. Legal costs piled on additional pressure. The company spent $25.6 million on litigation during the quarter, stemming from legacy issues related to its SPAC merger. A settlement tied to those SPAC matters was reportedly reached in late July 20...