Trump Media Expands Its Bitcoin Empire

Trump Media and Technology Group has released its third-quarter financial report, and although its Bitcoin investments have grown dramatically, the company still faces substantial financial losses. The company revealed that its overall net loss for Q3 reached approximately $54.8 million, a significant increase from the $19.3 million loss recorded during the same period last year. Despite its bold Bitcoin strategy, higher operating costs and slower revenue growth have kept the company in the red.

The Trump-affiliated firm, which runs the Truth Social platform, reported total revenues of only $972,900 for the quarter — slightly lower than last year’s performance of over $1 million. Meanwhile, shares of Trump Media (DJT) dropped by 1.73%, closing at $13.10, with a modest after-hours increase to $13.20. These results reflect that even with growing Bitcoin holdings, profitability remains elusive for the company.

As of September 30, Trump Media held 11,542 Bitcoin, worth around $1.3 billion at the time. The company began purchasing Bitcoin in late July, announcing its intention to further expand its cryptocurrency investments. In its earnings statement, the company also mentioned potential acquisitions of other digital currencies similar to Bitcoin, emphasizing a broader approach to building a digital treasury.

According to the report, Trump Media generated $15.3 million in realized income from Bitcoin options and earned an additional $33 million in unrealized gains from its holdings of over 746 million Cronos tokens. At the end of September, Cronos was valued at around $0.18 per token. The company explained that this Bitcoin-based investment plan began in May after raising $1.5 billion through stock sales and an additional $1 billion through convertible bonds. The move marked a strategic shift toward integrating Bitcoin and other crypto assets into the company’s long-term financial strategy.

Devin Nunes, the CEO and president of Trump Media, described the third quarter as “crucial” for the firm’s expansion and digital transformation. He emphasized that the company had “secured our financial future with a massive Bitcoin treasury” and noted that the firm continues to expand its ecosystem around Truth Social and digital assets. The growing Bitcoin reserve, he suggested, represents a key step in stabilizing the company’s finances.

In August, Trump Media entered an agreement with Crypto.com and Yorkville Acquisition Corp to create the Trump Media Group CRO Strategy — a digital asset treasury entity aimed at acquiring Cronos and supporting the broader Bitcoin and crypto ecosystem. According to the Q3 report, this division is expected to buy up to $1 billion worth of Cronos tokens, totaling about 6.3 trillion units. The move aligns with the company’s long-term vision to diversify beyond Bitcoin while maintaining Bitcoin as its central asset.

Nunes also highlighted that the company’s overall financial assets grew from $274 million in March 2024, when Trump Media went public, to an impressive $3.1 billion by September 30, 2025. However, despite the significant rise in Bitcoin value and crypto-related income, the company’s stock price has fallen roughly 61% year-to-date. Investors remain cautious, waiting to see whether the company’s heavy reliance on Bitcoin and digital assets will eventually lead to sustained profitability.

Still, optimism persists within the company. Executives believe that as Bitcoin continues to rise in global recognition and institutional adoption, Trump Media’s diversified treasury strategy could yield major rewards in the coming years. The firm plans to continue expanding its Bitcoin reserves, evaluate merger opportunities, and acquire new digital assets that can increase long-term value for shareholders. While the path to recovery remains uncertain, the company’s strong commitment to Bitcoin and blockchain technology signals a determined push toward redefining its financial future through innovation and crypto expansion.