Trump's media holdings increased by 1,510 Bitcoins in the third quarter, with a reserve scale reaching $1.17 billion
Trump Media and Technology Group ( Trump Media & Technology Group ) increased their net holdings of Bitcoin by 1,510 in the third quarter, bringing their total holdings to approximately 15,649 coins, at a time when the price of cryptocurrencies had fallen below September levels.
- After a net increase of 1,510 Bitcoin holdings in the third quarter, Trump's media holdings reached 15,649 coins.
- Chief Financial Officer Phillip Juhan stated that the company purchased 4,359 bitcoins during the quarter, with some of the funds coming from the sale of bitcoin ETF holdings.
- Trump's media pledged approximately 11,385 bitcoins to an options-based income plan, with institutional counterparties.
- The company's net profit in the third quarter reached $409.7 million, mainly supported by the valuation gains of digital assets.
- As the merger with TAE Technologies was being pursued, Trump's media retained 7 million shares of IBIT.
According to the documents submitted by the company to the U.S. Securities and Exchange Commission (SEC) on November 9, the value of these holdings on September 30 was approximately $1.31 billion. Calculated at the Bitcoin price of $74,450 on November 10, the value of the same holdings would be about $1.17 billion, and this does not include the company's separate investments in BlackRock (iShares) Bitcoin Trust.
Trump media bought 4,359 bitcoins in the third quarter
At the financial report conference call on Monday, Chief Financial Officer Phillip Juhan stated that Trump Media purchased 4,359 bitcoins in the third quarter, with the funds coming from part of the proceeds from selling its bitcoin ETF holdings.
These purchases are part of the company's reorganization of its cryptocurrency holdings since July. Under the influence of other portfolio transactions, its total Bitcoin position increased by a net 1,510 coins.
As of September 30, Trump's media holdings included approximately 15,649 bitcoins, as well as 7 million shares of BlackRock iShares Bitcoin Trust, which is equivalent to IBIT.
The company previously reported that, after further purchases of cryptocurrencies, it held 14,139 bitcoins as of the end of July.
According to the latest documents, Trump's media group purchased a total of 6,359.15 Bitcoins in the first nine months of 2026, at purchase prices ranging from approximately $59,900 to $65,400 per coin.
These purchases reduced the company's overall acquisition costs, however, the document does not provide a single weighted average purchase price for its entire Bitcoin holdings.
Social media estimates place this figure at around $105,000 per coin. If this estimate is applied to all holdings, and calculated at $74,450 per Bitcoin, it means there is an unrealized loss of approximately $478 million.
However, this calculation relies on unverified purchase prices and does not represent the losses disclosed in Trump's media financial statements.
Trump's media's Bitcoin holdings have declined in value
Calculated based on the closing price of around $83,500 per Bitcoin at the end of September, the value of Trump's media holdings reported to be close to $1.31 billion.
If calculated based on the reference price of $74,450 on November 10th, its estimated market value would drop to approximately $1.165 billion, which is about $142 million lower than the valuation in September.
The company's September documents separately listed 4,263.94 Bitcoins, which are classified as digital assets, with a total cost base of $321.3 million and a fair value of $356.3 million.
An additional 11,385.20 Bitcoins are used to support its Bitcoin options strategy, and a separate accounting treatment method is adopted for them.
Trump Media reported a net profit of $409.7 million in the third quarter, reversing a loss of $54.8 million from the same period last year.
In the financial report announcement, the company stated that most of its quarterly profits came from realized and unrealized net earnings related to digital assets, pledged assets, and equity securities, amounting to $496.1 million.
These earnings were offset by derivative losses of $54 million and other expenses. After adjustment, EBITDA remains negative at $12.3 million.
At the same time, the company's quarterly revenue reached $3 million, an increase of 205% compared to approximately $1 million in the same period last year.
Bitcoin Income Plan holds 11,385 Bitcoins
Trump media revealed that as of the end of September, 11,385.20 Bitcoins were pledged under his "Bitcoin Income Management Plan."
The company generates revenue by signing covered option contracts and other arrangements with institutional counterparties, utilizing a portion of its cryptocurrency reserves.
According to this option strategy, the counterparty can use the pledged Bitcoin as collateral again. The company describes this practice as re-pledge ( rehypothecation ) in the document.
These arrangements expose Trump's media to counterparty credit risk, including the possibility of not being able to recover pledged assets in the event of a counterparty's default.
As of September 30, the company held covered call options with Bitcoin as the underlying asset, totaling 4,838.40 Bitcoins, as well as covered put options with Bitcoin as the underlying asset, totaling 1,500 Bitcoins.
The expiration dates of these contracts are all in October, and different types of options correspond to different strike prices.
The SEC document does not disclose the identities of the specific counterparties responsible for managing these arrangements.
In addition, disclosures from Trump's media also show that approximately 4,260.73 bitcoins were used to secure his convertible notes. The company will face a deadline on November 30th, at which time eligible noteholders may request repayment in cash.
A recent transaction involving 4,259 bitcoins transferred to Crypto.com relates to a wallet associated with that debt collateral. However, this transfer does not prove that these bitcoins have been sold.
Trump Media increased its revenue before merging with TAE
In addition to cryptocurrency investments, Trump Media stated that part of its revenue growth came from the subscription service Truth API launched in August.
The company recorded a subscription revenue growth of $1.8 million, which came from Truth API and Truth+. In addition, there was an additional $200,000 from the management fees of investment products from Truth.Fi.
According to Reuters, Susquehanna International Group and Jump Trading have agreed to pay in order to obtain posts on Truth Social more quickly through the API service.
After terminating the proposed CRO reserve business in August, Trump's media continues to push forward with the merger with fusion energy company TAE Technologies.
The company announced that SEC declared the effectiveness of its merger registration on November 5th.
Shareholders registered as of November 2 are eligible to vote at the meeting on December 14. The completion of the merger still depends on whether the required approvals and delivery conditions are met.
According to Google Finance data, Trump Media's stock price closed at $4.06 on November 9, representing a rise of 1.75%.
