SpaceX reports a $539 million mark-to-market loss on its Bitcoin holdings amid a 33% decline in the cryptocurrency’s value.
SpaceX disclosed a $539 million decline in the value of its Bitcoin holdings during the first half of the year, reflecting a 33% drop in the cryptocurrency’s price. The company’s 18,712 Bitcoin were valued at $1.098 billion as of June 30, down from $1.637 billion at the end of 2025, though no coins were sold and the position remains above its original cost basis of $661 million.
The company reported second-quarter revenue of $7.81 billion, a 92% year-over-year increase, surpassing analysts’ expectations of $6.93 billion. Net loss narrowed to $541 million from $1 billion a year earlier, while adjusted EBITDA nearly tripled to $3.5 billion, driven by growth across launch services, Starlink, and AI segments.
Despite the earnings beat, SpaceX shares fell as much as 7.5% in after-hours trading after closing 9.43% higher at $125.33. Capital expenditure surged to $18.4 billion, exceeding forecasts of $13 billion, largely due to investments in AI computing infrastructure.