Trump Media Increased Bitcoin Reserves to 15,649 BTC in Q3

The American company Trump Media & Technology Group (NASDAQ: DJT), which owns the social network Truth Social, increased its total Bitcoin holdings to 15,649 BTC as of September 30, 2026. According to financial statements published on November 9, the market value of these assets at the end of the quarter was approximately $1.31 billion. Compared to June 30, the reserve grew by about 6,172 BTC.

The company's CFO, Phillip Juhan, reported that during the quarter, Trump Media acquired 4,359 BTC, partially using funds from the sale of exchange-traded fund shares investing in Bitcoin. Simultaneously, the company continued to transfer cryptocurrency assets into a yield management program based on options trading. Despite the increase in BTC reserves, their market value declined after the reporting period due to a drop in the cryptocurrency's price.

How Trump Media's Bitcoin Reserves Changed

As of June 30, Trump Media held approximately 9,477 BTC, and by July 31, it had increased the reserve to 14,139 BTC. By the end of September, the total reserves reached 15,649 BTC, indicating a growth of about 1,510 BTC over the last two months of the quarter. These figures include both digital assets directly reflected in the corresponding balance sheet item and bitcoins pledged for financial operations.

As of September 30, the market price of Bitcoin was approximately $83,500, corresponding to an estimated total reserve value of $1.31 billion. Using the price of $74,450 per BTC provided in the initial analysis on November 10, the value of the same amount of coins would be about $1.17 billion. The difference amounts to approximately $142 million; however, this is a change in the estimated market valuation, not a confirmed loss from the sale of cryptocurrency.

In addition to direct BTC reserves, Trump Media owned seven million shares of BlackRock's iShares Bitcoin Trust (IBIT) at the end of the quarter. These securities are accounted for separately from the physical cryptocurrency reserves and provide additional asset value dependency on the price of Bitcoin.

Net Profit Reached $409.7 Million

For the third quarter, Trump Media reported a net profit of $409.7 million, compared to a loss of $54.8 million for the same period in 2025. The main contributors were realized and unrealized results on digital assets pledged for bitcoins and securities, totaling $496.1 million. A significant part of this result is related to asset revaluation and does not represent cash revenue from core operations.

Simultaneously, the company recorded about $54 million in losses on derivative financial instruments. Adjusted EBITDA remained negative at -$12.3 million, although the result improved compared to a loss of $29.1 million a year earlier. Thus, the growth in net profit does not indicate that Trump Media's main operational areas have become profitable.

The company's quarterly revenue increased by 205% to $3 million. The main sources of growth were subscription products Truth+ and Truth API, which provides paid access to public data from the Truth Social network. Additional revenues were provided by advertising services and commissions from financial products Truth.Fi.

Most BTC Used in Financial Operations

As of September 30, Trump Media had pledged 11,385 BTC as collateral for its Bitcoin Yield Management Program. Under this program, the company uses options strategies with institutional counterparties to generate income and manage the risks of Bitcoin price changes. The terms of the agreements allow counterparties to reuse the provided assets as collateral, creating a risk of non-return if the other party to the transaction encounters financial problems.

Another approximately 4,261 BTC were used as collateral for the company's convertible bonds. These coins are already included in the total declared reserves, so they cannot be added to the 15,649 BTC again. According to the reports, bondholders will be able to demand their cash redemption on November 30, potentially creating obligations for Trump Media of up to $1 billion.

In early November, Bitcoin wallets associated with the company transferred about 4,259 BTC to the Crypto.com platform. The transaction volume almost matched the number of coins previously indicated as collateral for convertible bonds. However, the transfer itself does not confirm the sale of these assets, and its economic purpose has not been publicly established.

Meanwhile, Trump Media continues to prepare for a merger with the American company TAE Technologies, which is engaged in the development of nuclear fusion and energy technologies. On November 5, the U.S. Securities and Exchange Commission declared the registration statement for the planned deal effective, after which the company scheduled a shareholder vote for December 14. The completion of the merger depends on the necessary approvals and fulfillment of other conditions of the deal.