Elon Musk’s SpaceX (SPCX) tops earnings as bitcoin (BTC) holding value drops by $540 million

SpaceX (SPCX), Elon Musk’s space technology company, reported its first quarterly results as a public company on Tuesday, announcing second-quarter revenue of $7.8 billion.

That figure topped Wall Street expectations of $6.9 billion, while narrowing its quarterly loss to to $541 million as growth accelerated across its launch, Starlink and AI businesses.

The company reported a net loss of $541 million, an improvement from a $1.0 billion loss a year earlier, while adjusted EBITDA nearly tripled to $3.5 billion.

Crypto investors were also watching for changes to SpaceX’s bitcoin BTC$64,078.69 holdings.

The company reported $1.10 billion in digital assets at the end of the second quarter, down from $1.64 billion at the end of 2025.

SpaceX’s IPO filing disclosed that it held 18,712 bitcoin as of March 31, acquired for about $661 million and valued at $1.29 billion at the time. Tuesday’s earnings release reported only the value of its digital asset holdings and did not disclose the number of bitcoin held or explain the decline.

SPCX was down 6% immediately following the report after closing the session nearly 10% higher on the day’s trading, while the Nasdaq 100 gained 3.3%.