Trump Media & Technology Group (TMTG) reported a $238.1 million net loss in Q2 2026, despite an 89 per cent year-over-year increase in revenue to $1.67 million. The company said it plans to implement a more disciplined digital-asset treasury management framework to mitigate cryptocurrency volatility and improve returns on its holdings.
Trump Media held about 9,477 Bitcoin (BTC) as of 30 June, with holdings increasing to approximately 14,139 BTC by 31 July, including pledged Bitcoin. The company also holds Cronos (CRO) and is exploring options strategies, lending arrangements, and other methods of generating returns from its digital assets.
The company’s revenue increased from $883,300 in the same quarter previous year to around $1.67 million. Subscriptions to the Truth+ Patriot Package, administrative fees associated with Truth.Fi, and advertising services given under a barter arrangement. Truth Social’s overall development was constrained by lower advertising revenue, which resulted in a comparatively modest operating revenue base in relation to its investment holdings.
Trump Media reported about $116.7 million in realised and unrealised losses on digital assets and pledged digital assets in the second quarter, as well as additional losses related to securities. The company said combined unrealised losses on digital assets, pledged assets and equity securities totalled about $190.4 million. It also reported $25.6 million in legal expenses and $13.7 million in cash used for operating activities.
Trump Media reported a $405.9 million loss in the first quarter of 2026, primarily due to changes in its digital assets and related investment. The previously mentioned modifications appear to be representative of a broader trend in Q2 performance.
Trump Media’s July transactions show a clear change in how it manages its crypto holdings. In July, the company sold about $159.6 million in equity securities tied to Bitcoin-related products and used the proceeds to buy Bitcoin directly.
As of 31 July, it reported holding about 14,139 BTC, including pledged Bitcoin, valued at roughly $890.5 million based on the reference price used in its accounts. The move suggests the company is not reducing its exposure to cryptocurrency after a difficult quarter. Instead, its Bitcoin holdings increased significantly after the quarter ended.
The company also disclosed that its Bitcoin holdings are being used in various ways. Some of the holdings support convertible notes, while another portion is pledged to a Bitcoin options strategy. Trump Media said some Bitcoin has also been placed with third parties through lending, placement and other yield arrangements.
According to the report, Trump Media has about 9,477.16 BTC up until 30 June, with a cost of over $1.01 billion and an estimated fair value of about $557.1 million. Furthermore, it has roughly 756.1 million CROs, which are estimated to be worth $40.6 million. It is noteworthy that the amount of Bitcoin it possessed was marginally less than the 9,542.16 BTC announced at the end of 2025.
Trump Media’s stated Bitcoin holdings increased to roughly 14,139 BTC by 31 July. That is a gain of almost 4,662 BTC as compared to 30 June. According to the corporation, pledged Bitcoin was included in the July number, thus not all of the assets might have been immediately accessible for business usage.
Trump Media’s Bitcoin strategy now extends beyond simply holding the cryptocurrency on its balance sheet. As of 30 June, the company reported 4,260.73 BTC, valued at about $250.5 million, backing convertible notes. Those holdings are subject to withdrawal restrictions under the debt agreement through 29 May, 2028. Another 2,077.34 BTC was pledged to support the company’s Bitcoin options strategy. The figures show that a share of the company’s Bitcoin is being used for financing and derivatives-related activities rather than held solely as an investment.
Trump Media disclosed that more than 2,000 BTC was pledged as part of its Bitcoin options strategy, indicating that derivatives already play a role in its treasury operations. The company also said it has placed some Bitcoin with third parties through lending, placement, and other yield-generating arrangements.
Trump Media’s shift in strategy is also reflected in its decision to end the proposed Trump Media Group CRO Strategy business combination. The deal was intended to create a large digital asset treasury focused on Cronos (CRO) in partnership with Crypto.com and Yorkville Acquisition Corp. Earlier plans included a proposed $1 billion CRO commitment from Crypto.com, $200 million in cash, and an additional equity financing facility.
On 7 August, Trump Media and its partners terminated the proposed transaction and related agreements. While it ended the CRO-focused transaction, the company increased its direct Bitcoin holdings. Taken together, those moves suggest management is narrowing the scope of crypto-related risk it wants to take rather than withdrawing from digital assets altogether.
Trump Media’s existing CRO holdings remain separate from the cancelled transaction. Under the disclosed purchase terms, the company becomes eligible to sell up to 68,442,704 CRO on 26 August, with the sale to occur over the following six months.
The company introduced Truth API, a business-to-business data licensing offering, on 1 August 2026. It offers low-latency access to postings from specific Truth Social accounts that are publicly accessible. Trump Media claimed to be making money and to have already signed over ten customer contracts. The second-quarter results did not include such revenue because the product was launched after 30 June.
