Key Highlights
- Trump Media disclosed a Q1 net deficit of $405.9 million against revenue of $871,200.
- Unrealized Bitcoin losses totaled $244 million while investment portfolio declines reached $108.2 million.
- The firm’s 9,542 BTC position carries a $1.13 billion acquisition cost but was valued at only $647 million at quarter close.
- Quarterly revenue advanced 6% compared to the prior year; Devin Nunes resigned as CEO on April 22.
- Shares of DJT have declined over 90% from their $97.54 peak reached in early 2022.
Trump Media & Technology Group recorded a net deficit of $405.9 million during the first quarter of 2026. This represents a significant expansion from the $31.7 million loss reported during the corresponding period in 2025.
Quarterly revenue reached $871,200. While this figure reflects a 6% year-over-year increase from Q1 2025, the growth remains minimal when measured against the nearly $406 million shortfall.
DJT shares recently changed hands around $8.93. The stock price has contracted more than 90% from its all-time high of $97.54 recorded in early 2022.
Trump Media & Technology Group Corp., DJT
Cryptocurrency holdings accounted for the majority of the financial damage. Trump Media registered $244 million in unrealized depreciation on its Bitcoin portfolio, alongside $108.2 million in losses primarily linked to equity investments.
The organization maintains ownership of 9,542.16 BTC. These digital assets were acquired at an average price point of approximately $108,519 per coin — coinciding with last summer’s market highs — establishing a combined cost basis of $1.13 billion.
As of March 31, the market value of this Bitcoin position stood at $647 million. The differential between acquisition cost and current valuation approached $500 million.
Bitcoin has experienced a rebound since quarter-end. The holdings now carry an estimated worth of $770 million, with BTC trading above the $80,000 threshold.
Cronos Token Holdings Compound Losses
Trump Media’s portfolio includes 756.1 million Cronos (CRO) tokens. The company acquired these digital assets for $113.9 million through a Crypto.com arrangement finalized last year. By the end of the quarter, their market value had fallen to $53 million.
The CRO acquisition formed part of a strategic collaboration integrating the token with Truth Social and Truth+ incentive programs. This partnership has yet to produce favorable financial outcomes.
Among the company’s Bitcoin reserves, 4,260.73 BTC — carrying a quarter-end value near $289 million — serves as security for convertible debt instruments. An additional 2,000 BTC backs collateral agreements related to covered call options deployed for volatility management.
Operating cash flow delivered a positive $17.9 million during the quarter despite the substantial losses. The company generated income through option writing strategies on its pledged Bitcoin assets.
Total financial holdings climbed to $2.1 billion, representing a threefold increase from levels observed one year earlier.
Income Sources
Media operations produced $810,100 in revenue. Truth.Fi, the firm’s exchange-traded fund division, contributed $61,100 through management fees. These streams combined to yield the $871,200 quarterly total.
The organization secured $2.5 billion in capital for its Bitcoin treasury initiative during the previous year, subsequently announcing a $2 billion Bitcoin allocation in July 2025.
Devin Nunes departed from his CEO role on April 22. The company has yet to name a permanent successor.
American Bitcoin, the mining operation co-launched by Eric Trump with backing from Donald Trump Jr., reported an $81.7 million net loss for Q1. The company successfully mined a record 817 BTC throughout the quarter.
