Bitcoin Gains Lift Trump Media to a Q3 Profit as Operations Lose $23.6 Million
By Unchained
AI summary of the source article
Trump Media & Technology Group reported $409.7 million in Q3 net income, boosted by a $378.1 million gain on digital assets despite an operating loss of about $23.6 million.
Why it matters
Trump Media stated in its filing that it trades covered options "to generate yield on these assets and increase our principal balance of bitcoin."
Key facts
- Trump Media held 15,649.14 BTC worth about $1.31 billion at the end of the quarter, with 11,385.20 BTC pledged as collateral for covered options.
- The company recorded a $378.1 million gain on digital assets and pledged digital assets for the quarter ended Sept. 30.
- Third-quarter revenue rose 205% to $3.0 million, driven by Truth API subscriptions, Truth+ streaming, advertising, and Truth.Fi ETF management fees.
Source excerpt · Unchained
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. The post Bitcoin Gains Lift Trump Media to a Q3 Profit as Operations Lose $23.6 Million appeared first on Unchained .