SpaceX is sitting on 8,285 BTC price $603 million in Coinbase Prime custody whereas reporting a lack of almost $5 billion for 2025, in keeping with Arkham Intelligence knowledge and a report from The Data revealed late Friday.
The loss marks a pointy reversal from a yr earlier when SpaceX generated roughly $8 billion in revenue on revenues estimated between $15 billion and $16 billion.
Income grew to $18.5 billion in 2025, however the integration of xAI, Elon Musk’s synthetic intelligence enterprise acquired in February, drove prices previous the highest line.
There are not any modifications to the corporate’s bitcoin place regardless of these losses. Switch historical past analyzed by CoinDesk reveals the final important motion was an inner rebalance roughly 4 months in the past, with 614 BTC and 1,021 BTC transferring between SpaceX’s personal wallets.
The steadiness historical past chart reveals holdings have remained steady since mid-2024 after peaking above $1.6 billion in worth throughout the October 2025 all-time excessive.
For an organization that simply posted a $5 billion loss and is actively pursuing an IPO, holding $603 million in a risky asset quite than liquidating it to enhance the steadiness sheet is a press release about how Musk (or the broad) view bitcoin as a treasury asset.
SpaceX’s place is now the fourth-largest identified company bitcoin holding behind Technique, Marathon Digital, and Riot Platforms.
CoinDesk reported final month that SpaceX had filed for an IPO that may disclose the bitcoin place in public filings for the primary time, doubtlessly forcing a fair-value accounting determination beneath the brand new FASB guidelines that took impact in late 2025.