Trump Media adds 1,510 Bitcoin in Q3 as treasury reaches $1.17B

What happened

Trump Media & Technology Group increased its Bitcoin holdings by a net 1,510 BTC during the third quarter, according to a November 9 SEC filing and earnings call reported by Crypto.news and Bitcoinist. The company ended September with approximately 15,649 Bitcoin.

Chief Financial Officer Phillip Juhan said on the earnings call that the company purchased 4,359 BTC during the quarter, partly using proceeds from a partial sale of its Bitcoin ETF holdings. The net increase reflects other portfolio transactions as well.

The filing valued the Bitcoin position at about $1.31 billion as of September 30, when Bitcoin closed near $83,500. At a November 10 reference price of $74,450, the same holdings would be worth roughly $1.17 billion, excluding the company's separate investment in BlackRock's iShares Bitcoin Trust.

Trump Media also reported third-quarter net income of $409.7 million, reversing a $54.8 million loss a year earlier. The company attributed most of the profit to $496.1 million in net realized and unrealized gains involving digital assets, pledged assets and equity securities, partly offset by $54 million in derivatives losses and other expenses.

Why it matters

The disclosure adds another data point on corporate Bitcoin treasury strategies, a theme that has drawn attention as publicly traded companies build digital asset positions. Bitcoinist noted that the reported holdings reflect purchases completed during the quarter and do not necessarily represent new buying pressure in November.

The filing also shows how Trump Media is using its Bitcoin beyond simply holding it. About 11,385 BTC were pledged to a Bitcoin Yield Management Program involving covered options and institutional counterparties, an arrangement the company describes as exposing it to counterparty credit risk.

What the data shows

Trump Media acquired 6,359.15 BTC during the first nine months of 2026 at prices ranging from about $59,900 to $65,400, according to the filing. The filing does not establish a single weighted-average purchase price for the full position; market estimates circulating on social media have placed it near $105,000 per coin, a figure the reports describe as unverified.

At September 30, the company recorded 4,263.94 BTC as digital assets with a cost basis of $321.3 million and a fair value of $356.3 million. Another 11,385.20 BTC supported the options strategy and received separate accounting treatment. The company held covered-call options referencing 4,838.40 BTC and covered-put options referencing 1,500 BTC, with October expirations.

Trump Media also reported about 4,260.73 BTC securing its convertible notes, and it retained seven million IBIT shares. Quarterly revenue reached $3 million, up 205% from about $1 million a year earlier, including $1.8 million in subscription growth from Truth API and Truth+ and $200,000 in management fees from Truth.Fi products. Adjusted EBITDA remained negative at $12.3 million.

Background

Trump Media previously reported holding 14,139 Bitcoin at the end of July following additional purchases. The third-quarter activity was part of a restructuring of its cryptocurrency treasury that began in July, according to Crypto.news.

The company has also been pursuing a merger with fusion energy firm TAE Technologies after terminating a proposed CRO treasury venture in August. It said the SEC declared its merger registration statement effective on November 5. Trump Media shares closed November 9 at $4.06, up 1.75%, according to Google Finance.

What to watch

Trump Media faces a November 30 date when eligible convertible noteholders can demand repayment in cash. A recent transfer of 4,259 BTC to Crypto.com involved wallets associated with that debt collateral; the reports said the transfer did not establish that the Bitcoin had been sold.

The SEC filing does not identify the counterparties in the options-based yield arrangements. Bitcoinist also noted that Bitcoin's price direction will depend more on current demand, liquidity and technical momentum than on purchases already completed.

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