Trump Media’s $405.9 million net loss was driven mostly by unrealized losses on Bitcoin bought at last summer’s peak and Cronos tokens acquired through a Crypto.com deal.
Trump Media & Technology Group posted a $405.9 million net loss in the first quarter of 2026, up from $31.7 million a year earlier, amid growing unrealized losses on its crypto holdings.
The parent company of Truth Social booked $244 million in unrealized losses on its Bitcoin position and a further $108.2 million in investment losses tied mostly to equity securities, with nearly $370 million of the quarter’s total losses stemming from digital asset and equity markdowns, according to a recent filing with the Securities and Exchange Commission (SEC).
The losses mostly trace back to Bitcoin purchases made at last summer’s market peak. Trump Media bought roughly 9,500 Bitcoin at an average cost of around $108,519 per coin. By March 31, the company held 9,542 Bitcoin with a cost basis of $1.13 billion but a fair value of just $647 million, a gap of nearly $500 million. The position has since recovered somewhat, now worth around $770 million with Bitcoin trading above $80,000.
