Trump Media & Technology Group, the parent company of Truth Social, just posted a quarterly net loss that is roughly 140 times its revenue. The company reported a $238.1 million net loss for Q2 2026, driven almost entirely by the plummeting value of its Bitcoin stash.
Revenue came in at $1.7 million for the quarter, up 89% year-over-year from $883,300. Under normal circumstances, nearly doubling your revenue would be cause for celebration. When your losses multiply by a factor of twelve in the same period, the champagne stays corked.
Bitcoin bites back
The culprit behind TMTG’s eye-watering loss is straightforward: $190.4 million in non-cash unrealized losses on digital assets. Of that figure, $116.7 million was directly tied to the decline in Bitcoin’s price, which fell approximately 13% during the quarter to around $58,800.
TMTG’s total net loss in Q2 2025 was $20 million, meaning the deficit ballooned by more than 1,000% year-over-year.
