Trump Media Posts $54.8 Million Loss as Bitcoin Strategy Takes Center Stage

Trump Media and Technology Group (DJT), the media company backed by U.S. President Donald Trump, posted a $54.8 million net loss for the third quarter, marking its third straight period in the red.

The results, released Friday, come as DJT shares continue to slide – down over 3% on the day to $12.90 and nearly 25% in the past month. Year-to-date, the stock has lost more than 60% of its value, according to Google Finance.

A major portion of the quarterly loss stemmed from roughly $20 million in legal expenses tied to the firm’s lengthy 2024 SPAC merger, which the company described as “one of the longest in history.”

Another $54 million in non-cash losses was attributed to accounting adjustments related to its digital asset portfolio, stock-based compensation, and market revaluations.

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Despite the mounting losses, Trump Media emphasized the success of its Bitcoin investment strategy, reporting $15.3 million in income from bitcoin-related options during the quarter. The firm continues to hold 15,000 BTC, valued at around $1.5 billion, as part of its $3.1 billion total asset base – unchanged from the previous quarter.

CEO Devin Nunes said the company’s expanding financial position and positive operating cash flow give it room to pursue acquisitions. “We’re now in a position to act on strategic M&A opportunities, targeting assets that will drive long-term shareholder value,” Nunes said.