- Trump Media & Technology Group reported a massive net loss of $405.9 million in Q1 2026, largely due to a nearly $500 million paper loss on its Bitcoin investment.
- Despite the crypto losses, the company generated positive operating cash flow of $17.9 million, aided by selling options tied to its Bitcoin holdings.
- Related crypto firm American Bitcoin, backed by Trump family members, posted an $81.7 million quarterly loss despite mining a record 817 Bitcoin.
Trump Media & Technology Group posted a staggering $405.9 million net loss for the first quarter of 2026, a drastic increase from $31.7 million a year earlier, according to an SEC filing. The losses were primarily driven by a $244 million paper loss on its Bitcoin position and further equity investment losses, stemming from purchases made near last summer’s market peak.
The company bought roughly 9,500 Bitcoin at an average cost of around $108,519 per coin. Consequently, by March 31, its 9,542 Bitcoin had a fair value of $647 million against a $1.13 billion cost basis, a gap of nearly $500 million.
However, Trump Media still generated $17.9 million in operating cash flow during the quarter. The firm also holds 756 million Cronos (CRO) tokens, which were worth just $53 million at the quarter’s end.
Meanwhile, revenue for the quarter was $871,200, a modest 6% increase from the previous year. The results follow a turbulent period that saw CEO Devin Nunes step down and the stock lose over 90% of its value since its 2022 peak.
Separately, American Bitcoin, the mining company co-founded by Eric Trump, posted an $81.7 million net loss. Its revenue of $62.1 million marked a 400% annual jump but missed analyst estimates by 17%.
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