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Trump Media and Technology Group’s Bitcoin holdings weren’t enough to prop up its balance sheet, as the company reported a $54.8 million loss in its third-quarter earnings, due to rising costs.
The Trump-tied company, which operates the Truth Social social media platform, <a href="https://s3.amazonaws.com/sec.irpass.cc/2660/0001140361-25-040977.htm" rel="noopener noreferrer nofollow" target="_blank">shared</a> on Friday that its Q3 net loss widened from the $19.3 million in losses compared to the same time last year.
The company reported revenues of $972,900, down from over $1 million a year ago. Shares in Trump Media (DJT) ended trading on Friday down 1.73% to $13.10, seeing a small bump after-hours to $13.20.
Trump Media reported that it held 11,542 Bitcoin (<a href="/bitcoin-price" rel="noopener noreferrer">BTC</a>) as of Sept. 30. It first announced it <a href="https://cointelegraph.com/news/donald-trump-media-company-bitcoin-crypto-bills" rel="noopener noreferrer nofollow">would start buying Bitcoin in late July</a>, and flagged plans in its earnings to buy more, along with considering “the acquisition of other, similar cryptocurrencies.”
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 <img src="https://s3.cointelegraph.com/uploads/2025-11/019a6bbb-b6eb-7ffa-bf7f-f8c1e39b875b" title="" alt="Trump Media posts $55M Q3 loss as Bitcoin bet reaches $1.3B">
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 Source: <a href="https://x.com/arkham/status/1986952266939572668" rel="noopener noreferrer nofollow" target="https://x.com/arkham/status/1986952266939572668">Arkham&nbsp;</a>
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<h2 id="bitcoin-holdings-generated-income">Bitcoin holdings generated income</h2>
Trump Media generated $15.3 million of realized income from its <a href="https://cointelegraph.com/news/bitcoin-options-open-interest-hits-63b-all-time-high" rel="noopener noreferrer nofollow">Bitcoin options investments</a> and posted $33 million in unrealized gains from holding over 746 million Cronos, the native token of <a href="https://cointelegraph.com/learn/articles/how-does-blockchain-work-everything-there-is-to-know" rel="noopener noreferrer nofollow">the Cronos blockchain</a>. At the end of September, Cronos was trading hands for <a href="https://www.coingecko.com/en/coins/cronos" rel="noopener noreferrer nofollow" target="_blank">around</a> $0.18.
The company said in July that it acquired Bitcoin as part of an investment strategy, <a href="https://cointelegraph.com/news/trump-media-group-tmtg-2b-btc-deal" rel="noopener noreferrer nofollow">which it began in May</a>, after raising $1.5 billion from stock sales and $1 billion from convertible senior secured bonds.
Devin Nunes, Trump Media’s CEO and president, <a href="https://www.globenewswire.com/news-release/2025/11/07/3183709/0/en/Trump-Media-Reports-Third-Quarter-2025-Results.html" rel="noopener noreferrer nofollow" target="_blank">said</a> in a statement that the “third quarter was crucial to Trump Media’s expansion plans,” and the company has “secured our financial future with a massive Bitcoin treasury, and expanded our existing platforms.”
<h2 id="trump-media-to-buy-up-to-1-billion-in-cronos">Trump media to buy up to $1 billion in Cronos</h2>
Trump Media entered into an agreement with <a href="https://cointelegraph.com/explained/crypto-exchanges-explained" rel="noopener noreferrer nofollow">crypto exchange Crypto.com</a> and Yorkville Acquisition Corp in August to establish Trump Media Group CRO Strategy, a digital asset treasury company focused on acquiring Cronos.
In total, Trump Media Group CRO Strategy is expected to buy up to $1 billion in Cronos, representing over 6.3 trillion tokens, according to the Q3 results.
Related: <a href="https://cointelegraph.com/news/crypto-markets-could-ease-with-us-gov-shutdown-ending" rel="noopener noreferrer nofollow">Crypto could get relief as US Senate cuts deal to end shutdown: Report</a>
“With these financial assets now earning income, alongside our second consecutive quarter of positive operating cash flow, we’re well-poised to act on our mergers and acquisitions strategy by acquiring one or more of the crown jewel assets we’re now evaluating, with an eye toward those that will bring the most long-term value for our shareholders,” Nunes said.
<h2 id="stock-price-struggling-to-make-gains">Stock price struggling to make gains</h2>
The company’s financial assets have also grown from $274 million in March 2024, when it went public, to $3.1 billion as of Sept. 30, Nunes added.
However, its stock has been <a href="https://www.google.com/finance/quote/DJT:NASDAQ?sa=X&amp;sqi=2&amp;ved=2ahUKEwjHvP64veaQAxX7XmwGHcvZBUQQ3ecFegQIPhAT" rel="noopener noreferrer nofollow" target="_blank">trending</a> downward, losing 61% year-to-date.
<figure>
 <img src="https://s3.cointelegraph.com/uploads/2025-11/019a6bbb-bd4d-7759-a964-05a6b0c4e6f7" title="" alt="Trump Media posts $55M Q3 loss as Bitcoin bet reaches $1.3B">
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 Trump Media and Technology Group’s stock has been struggling to make gains this year. Source: <a href="https://www.google.com/finance/quote/DJT:NASDAQ?sa=X&amp;sqi=2&amp;ved=2ahUKEwjHvP64veaQAxX7XmwGHcvZBUQQ3ecFegQIPhAT&amp;window=YTD" rel="noopener noreferrer nofollow" target="https://www.google.com/finance/quote/DJT:NASDAQ?sa=X&amp;sqi=2&amp;ved=2ahUKEwjHvP64veaQAxX7XmwGHcvZBUQQ3ecFegQIPhAT&amp;window=YTD">Google Finance&nbsp;</a>
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Magazine: <a href="https://cointelegraph.com/magazine/bitcoin-kyle-chasse-venture-capitalist-youtube-strike-cointelegraph/" rel="noopener noreferrer nofollow">Bitcoin OG Kyle Chassé is one strike away from a YouTube permaban</a>

Trump Media posts $55M Q3 loss as Bitcoin bet reaches $1.3B

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