Trump Media Reports $55M Q3 Loss Despite $1.3B Bitcoin Holdings and Expanding Crypto Strategy

Trump Media’s Crypto Treasury Grows, But Losses Deepen

Trump Media and Technology Group (TMTG), the company behind the Truth Social platform, has revealed a $54.8 million loss for the third quarter of 2025, widening from $19.3 million in the same period last year.

Despite the mounting losses, the company has built a significant cryptocurrency portfolio. Its latest earnings report confirmed that TMTG now holds 11,542 Bitcoin (BTC), valued at approximately $1.3 billion as of September 30, according to data from Arkham.

The company’s total Q3 revenue fell slightly to $972,900, compared with just over $1 million a year earlier. Shares of Trump Media (NASDAQ: DJT) closed Friday down 1.73% at $13.10, though they edged slightly higher after hours to $13.20.

Bitcoin and Cronos Investments Drive Treasury Expansion

Trump Media began accumulating Bitcoin in May 2025 after securing $2.5 billion in fresh capital through stock sales and convertible bonds. By late July, the firm publicly announced its intent to pursue digital asset investments as part of a broader diversification strategy.

During Q3, the company generated $15.3 million in realized income from Bitcoin-linked options trading and booked $33 million in unrealized gains from holdings in Cronos (CRO) — the native token of the Cronos blockchain. At the end of September, CRO traded near $0.18, implying that TMTG held more than 746 million tokens at that time.

CEO Devin Nunes described the quarter as a “turning point” for Trump Media’s digital asset plans, saying the company had “secured our financial future with a massive Bitcoin treasury and expanded our existing platforms.”

$1B Cronos Acquisition Plan in the Works

In August, Trump Media formed a joint venture — Trump Media Group CRO Strategy — in partnership with Crypto.com and Yorkville Acquisition Corp. The initiative aims to acquire up to $1 billion worth of Cronos tokens, or roughly 6.3 trillion CRO, making it one of the largest corporate positions in that ecosystem.

According to the Q3 filing, the company views these digital asset holdings as “income-producing financial instruments” that will help fund future acquisitions. Nunes noted that with two consecutive quarters of positive operating cash flow, TMTG is preparing to pursue mergers and acquisitions targeting “crown jewel” assets to enhance long-term shareholder value.

Financial Assets Rise, but Stock Struggles to Recover

Since going public in March 2024, Trump Media’s total financial assets have ballooned from $274 million to $3.1 billion as of September 30. However, its stock has been under pressure throughout 2025, declining more than 60% year-to-date, according to Google Finance data.

Analysts attribute the weakness to investor skepticism about Truth Social’s limited user growth and uncertainty surrounding the company’s pivot toward crypto investments. Still, management maintains that the digital asset strategy is central to its future profitability.

Outlook: Betting on Crypto to Power the Next Growth Phase

While Trump Media’s growing crypto treasury signals confidence in digital assets, the company faces an uphill climb to translate those holdings into sustained profits. With planned investments exceeding $2 billion across Bitcoin and Cronos, the firm is positioning itself as a hybrid between a social media platform and a crypto investment company — an unusual model that could either pay off massively or amplify volatility.

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