Bitcoin plunges, Trump Media & Technology Group posts a massive loss of over $600 million in the first half: abandoning cryptocurrency and making a high-stakes bet on nuclear fusion
According to a report by the UK’s Financial Times, U.S. President Donald Trump’s media company suffered a severe loss in the second quarter. The company has dropped cryptocurrency trading, pushed forward plans to sell access to its “Truth Social” posts for quick returns, and shifted its focus to the nuclear fusion sector—whose commercial prospects have not yet been proven.
The report says Trump Media & Technology Group (Trump Media & Technology Group, “TMTG”) announced that it recorded a loss of $238 million in the second quarter of 2026, with revenue of $1.7 million, and total assets of nearly $2 billion. In the first half of 2026, the company’s net loss widened to $644 million, compared with $52 million in the same period last year. TMTG largely attributes the losses to the decline in the price of Bitcoin.
The company said it will continue to advance a merger deal with TAE Technologies worth more than $6 billion this year. The energy company currently has not generated any revenue from fusion operations, but plans to have a plant begin operations in 2031.
On Monday, Kevin McGurn, acting CEO of TMTG, told investors during a conference call that as AI and data centers drive rising electricity demand, energy will become a “strategic asset.” In addition, TMTG is planning to “expand the business” for retail traders and is “actively negotiating” with hyperscale cloud service providers, some of the largest news organizations, and developers of large language models.
A trust held by President Trump owns 115 million shares of TMTG, worth more than $1 billion. Trump is the trust’s sole beneficiary.
TMTG is the parent company of the Truth Social platform, founded by Trump in 2021. As for the stock performance, TMTG has fallen by nearly 30% this year, and CEO Devin Nunes stepped down in April.
The report also mentioned that over the past year, traffic to Truth Social has declined. Similarweb, a digital market intelligence firm, estimates that the platform’s mobile app had about 261,000 daily active users in July, down from more than 436,000 a year earlier.
#BTC $BTC
According to a report by the UK’s Financial Times, U.S. President Donald Trump’s media company suffered a severe loss in the second quarter. The company has dropped cryptocurrency trading, pushed forward plans to sell access to its “Truth Social” posts for quick returns, and shifted its focus to the nuclear fusion sector—whose commercial prospects have not yet been proven.
The report says Trump Media & Technology Group (Trump Media & Technology Group, “TMTG”) announced that it recorded a loss of $238 million in the second quarter of 2026, with revenue of $1.7 million, and total assets of nearly $2 billion. In the first half of 2026, the company’s net loss widened to $644 million, compared with $52 million in the same period last year. TMTG largely attributes the losses to the decline in the price of Bitcoin.
The company said it will continue to advance a merger deal with TAE Technologies worth more than $6 billion this year. The energy company currently has not generated any revenue from fusion operations, but plans to have a plant begin operations in 2031.
On Monday, Kevin McGurn, acting CEO of TMTG, told investors during a conference call that as AI and data centers drive rising electricity demand, energy will become a “strategic asset.” In addition, TMTG is planning to “expand the business” for retail traders and is “actively negotiating” with hyperscale cloud service providers, some of the largest news organizations, and developers of large language models.
A trust held by President Trump owns 115 million shares of TMTG, worth more than $1 billion. Trump is the trust’s sole beneficiary.
TMTG is the parent company of the Truth Social platform, founded by Trump in 2021. As for the stock performance, TMTG has fallen by nearly 30% this year, and CEO Devin Nunes stepped down in April.
The report also mentioned that over the past year, traffic to Truth Social has declined. Similarweb, a digital market intelligence firm, estimates that the platform’s mobile app had about 261,000 daily active users in July, down from more than 436,000 a year earlier.
#BTC $BTC