Key Highlights
- Trump Media disclosed a first quarter net loss of $405.9 million against revenue of merely $871,200.
- Cryptocurrency write-downs totaling $244 million on Bitcoin and $108.2 million on other investments fueled the massive loss.
- The firm’s Bitcoin position consists of 9,542 BTC purchased at a $1.13 billion cost basis, valued at only $647 million at the end of Q1.
- Year-over-year revenue increased a modest 6%; former CEO Devin Nunes resigned April 22.
- DJT shares have plummeted more than 90% from their 2022 high of $97.54.
Trump Media & Technology Group disclosed a staggering $405.9 million net loss for the first quarter of 2026. This represents a dramatic escalation from the $31.7 million deficit reported during the corresponding period in 2025.
Quarterly revenue reached only $871,200. While this figure represents a 6% uptick compared to Q1 2025, it remains virtually inconsequential when measured against losses approaching $406 million.
DJT shares most recently changed hands near $8.93. The equity has surrendered over 90% of its value since reaching its apex at $97.54 during early 2022.
Trump Media & Technology Group Corp., DJT
Cryptocurrency holdings account for the lion’s share of quarterly losses. The company recorded $244 million in unrealized losses on its Bitcoin position, alongside another $108.2 million in investment losses primarily connected to equity securities.
Trump Media currently maintains 9,542.16 BTC. These digital assets were acquired at an average price of approximately $108,519 per coin — close to last summer’s market zenith — establishing a total cost basis of $1.13 billion.
As of March 31, this cryptocurrency position carried a market value of just $647 million. The differential between acquisition cost and quarter-end valuation: nearly $500 million.
Bitcoin prices have subsequently rebounded. The position now commands a valuation around $770 million with BTC trading above the $80,000 threshold.
Cronos Token Holdings Compound Losses
The company additionally maintains 756.1 million Cronos (CRO) tokens. Trump Media invested $113.9 million in these tokens through a Crypto.com arrangement finalized last year. By quarter’s end, their market value had declined to $53 million.
The CRO acquisition stemmed from a strategic partnership integrating the token into Truth Social and Truth+ loyalty programs. The arrangement has yet to deliver positive financial results.
Regarding the firm’s [[LINK_START_3]]Bitcoin[[LINK_END_3]] reserves, 4,260.73 BTC — representing approximately $289 million at quarter-end — serves as collateral backing convertible debt instruments. An additional 2,000 BTC secures covered call options deployed to mitigate price volatility exposure.
Notwithstanding substantial losses, operating cash flow registered a positive $17.9 million throughout the quarter. The company generated income through options strategies involving its pledged Bitcoin reserves.
Total financial assets climbed to $2.1 billion, triple the amount reported twelve months earlier.
Revenue Analysis
Media operations contributed $810,100 in revenue. Truth.Fi, the organization’s exchange-traded fund division, produced $61,100 in management fees. These segments combine to form the $871,200 total.
The enterprise secured $2.5 billion in capital for its Bitcoin treasury initiative last year, subsequently announcing a $2 billion Bitcoin position in July 2025.
Former CEO Devin Nunes tendered his resignation on April 22. The company has not yet identified a permanent successor.
American Bitcoin, the mining operation co-established by Eric Trump with backing from Donald Trump Jr., reported an $81.7 million net loss during Q1. The firm successfully mined a record 817 BTC throughout the quarter.
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