TMTG's Bitcoin holdings cost $118,529, and its net loss of $405.9 million in the first quarter was mainly driven by unrealized losses on these 9,542 BTC. Since the company's first disclosure in Q2 2025 of its transformation into a "Bitcoin holding giant," it has continuously prioritized crypto assets in its financial strategy, with Bitcoin investments reaching as high as $1.3 billion in Q3 last year. Unlike traditional corporate treasury strategies like MicroStrategy, TMTG also deeply engages in CRO token and options trading, earning $15.3 million through Bitcoin options in Q3 last year.

The key detail in this earnings report is its holding of 4,000 Bitcoin covered call options, which essentially leverage its core holdings. In a market where Bitcoin prices fall below its cost basis, such options strategies can generate premium income to hedge some losses but also lock in 2,000 BTC as collateral, limiting upside potential during market rebounds. This reflects TMTG's attempt to balance risk exposure and cash flow pressures after setbacks in aggressive crypto strategies.
On May 10, Trump Media & Technology Group (TMTG) announced its Q1 2026 financial report, with a net loss of $405.9 million and revenue of $871.2k, widening from a $31.7 million loss in the same period last year, mainly due to unrealized losses on its cryptocurrency holdings dragging down performance.
During the reporting period, TMTG held 9,542 Bitcoin worth $767 million, with an average purchase cost of $118,529 per Bitcoin. Additionally, the company held 756.1 million CRO tokens, with a cost basis of $113.9 million and a fair value of $53 million. Last year, Trump Media completed its acquisition of CRO for $105 million.
TMTG also holds 4,000 Bitcoin covered call options to hedge against cryptocurrency volatility. These options require 2,000 BTC as collateral. $TRUMP
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