Trump Media & Technology Group recorded a net loss of $405.9 million in Q1 2026, primarily due to significant unrealized losses on Bitcoin and equity holdings. The losses reflect poor timing in cryptocurrency investments made last summer.
The company's losses included $244 million from Bitcoin and $108.2 million from equity securities, with nearly $370 million attributed to digital asset and equity markdowns. Trump Media purchased approximately 9,500 Bitcoin at an average cost of $108,519 per coin, resulting in a substantial gap between its cost basis of $1.13 billion and a fair value of $647 million as of March 31. The Bitcoin position has since seen some recovery, now valued at around $770 million.