Trump Media & Technology Group reported a $238 million net loss for the second quarter of 2026, more than 10 times its loss a year earlier, as falling crypto prices weighed heavily on its results.
Despite the setback, the company is keeping its Bitcoin exposure while shifting its business focus back toward Truth Social and its growing data business.
The company lost $238 million in the three months through June, compared with a much smaller loss a year earlier. Its loss per share widened to 86 cents from 8 cents.
A large part of the damage came from unrealized losses on Bitcoin and Cronos holdings. Excluding those paper losses, taxes, interest and other items, the operating loss stood at $164 million, compared with $44 million a year earlier.
The company’s stock also fell 8% during regular trading before moving slightly lower after the earnings release.
Truth Social Becomes the Main Focus
New CEO Kevin McGurn said Trump Media is stepping back from several newer business lines, including parts of its crypto and online betting expansion, to concentrate more resources on Truth Social.
One major part of that strategy is Truth API, a service giving trading firms faster access to public posts on Truth Social. Trump’s posts can influence markets, making low-latency access valuable to high-frequency trading firms.
The service charges between $60,000 and $100,000 a month, and Trump Media has already signed more than 10 customers, mostly trading firms. That could generate roughly $7 million to $12 million annually if current pricing holds.
Bitcoin Holdings Remain Large
Despite the broader business reset, Trump Media continues to maintain substantial Bitcoin exposure. The company disclosed 14,139 BTC, worth roughly $900 million based on the figures provided.
Its Bitcoin position also increased by 4,662 BTC in July, following the sale of $159.6 million in Bitcoin-related securities. The company said its strategy will preserve crypto exposure while managing volatility and improving returns from its balance sheet.
Fusion Project Still Moves Ahead
Not every new venture is being abandoned. Trump Media plans to continue its nuclear fusion business and hopes to complete its previously announced merger with TAE Technologies by the end of 2026.
McGurn called the fusion business an important potential driver of long-term value, while the company’s immediate focus shifts toward Truth Social and its data business.
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