Key Takeaways
- SpaceX maintains 8,285 BTC valued at roughly $603 million stored in Coinbase Prime custody
- The aerospace company shifted from an $8 billion profit in 2024 to a $5 billion loss in 2025
- Annual revenue climbed to $18.5 billion, though expenses related to the xAI acquisition exceeded income
- SpaceX has kept its bitcoin holdings stable since the middle of 2024
- The company ranks as the fourth-largest publicly known corporate bitcoin holder
SpaceX experienced an almost $5 billion loss for 2025, based on reporting from The Information released this past Friday. This represents a dramatic shift from the approximately $8 billion in profits the aerospace giant generated during the previous year.
https://x.com/blckchaindaily/status/2043174140723798502?s=20
Interestingly, revenue figures climbed higher. SpaceX recorded $18.5 billion in revenue for 2025, marking an increase from the estimated $15 billion to $16 billion range in 2024. However, expenses tied to absorbing xAI, Elon Musk’s artificial intelligence venture acquired in February 2025, drove total costs beyond income levels.
In spite of these financial setbacks, SpaceX has left its bitcoin portfolio completely untouched. Blockchain analytics from Arkham Intelligence confirm the company maintains 8,285 BTC stored with Coinbase Prime custody services, currently valued at approximately $603 million.
The most recent transaction on record was an internal wallet restructuring roughly four months back. Two separate transfers—614 BTC in one transaction and 1,021 BTC in another—moved between wallets controlled by SpaceX. Zero bitcoin was liquidated.
SpaceX’s bitcoin holdings reached their peak valuation exceeding $1.6 billion when Bitcoin hit its all-time high in October 2025. The actual BTC quantity has remained consistent since mid-2024.
This positions SpaceX as the fourth-largest corporate bitcoin holder among publicly disclosed companies, trailing only Strategy, Marathon Digital, and Riot Platforms.
Substantial Digital Asset Amid Financial Strain
For an organization gearing up for an initial public offering while managing a $5 billion deficit, maintaining over $600 million in a fluctuating digital asset represents a deliberate strategic decision. SpaceX has shown no indication of selling this position to strengthen its financial statements.
CoinDesk disclosed last month that SpaceX had submitted paperwork for an IPO. When these documents become publicly available, the bitcoin holdings will be revealed in official financial disclosures for the first time.
This carries significant implications due to updated FASB accounting standards implemented in late 2025. These regulations require companies to report cryptocurrency assets at current market value, which means bitcoin price fluctuations will directly impact SpaceX’s reported financial performance.
IPO Documentation and Bitcoin Transparency
After SpaceX completes its public offering, its bitcoin reserves will face identical examination as every other line item on the balance sheet. Market participants and financial analysts will gain the ability to monitor this holding through quarterly regulatory filings.
The company’s choice to retain its position throughout a $5 billion annual loss indicates that leadership considers bitcoin a strategic long-term treasury reserve rather than a speculative trading position.
SpaceX has entered a select but expanding group of corporations adopting this bitcoin treasury approach. While Strategy continues to dominate as the largest corporate holder by substantial margins, SpaceX’s $603 million position securely establishes it within this elite category.
Blockchain data from Arkham shows zero recent withdrawals. According to the latest on-chain verification, SpaceX’s complete 8,285 BTC holding remains preserved.
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