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Bitcoin Gains Lift Trump Media to a Q3 Profit as Operations Lose $23.6 Million

The $23.6 million operating loss is Unchained's calculation excluding a $378.1 million digital-asset gain, which the 10-Q books inside operating results, while revenue came to $3.0 million.

UnchainedUnchained · November 10, 2026 · 3h agoBrief · 1 min read

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By Dextape Desk ·

Truth Social's parent, Trump Media & Technology Group, reported third-quarter net income of $409.7 million, driven by bitcoin and bitcoin-linked holdings. Unchained's calculation, which removes a $378.1 million digital asset gain recorded within operating costs, puts the core business at a loss of about $23.6 million. The filing lists 15,649.14 BTC in total, with 11,385.20 coins pledged as collateral for covered options, which the counterparty may reuse. About 4,260.73 BTC backs $1 billion in convertible notes that holders can put back for cash on Nov. 30. Revenue climbed 205% to $3.0 million, credited to Truth API, Truth+ and advertising. The SEC declared the TAE merger registration effective Nov. 5; shareholders vote Dec. 14.

Why it matters: It shows how a crypto treasury's reported profit can rest on digital asset gains rather than core operating results.

Mentioned: Bitcoin

Summary by Dextape, based on reporting by Unchained. Machine-written from Unchained’s report and checked against it · How Dextape writes

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