Trump Media Made a $410 Million Profit Last Quarter on Just $3 Million of Revenue
247wallst.com reports that Trump Media & Technology Group posted a $409.7 million third-quarter profit on just $3.0 million of revenue, driven by $378.1 million in unrealized digital asset gains on its roughly $2.3 billion of Bitcoin and iShares Bitcoin Trust holdings. The site argues the figures describe two businesses — a money-losing media company and a large Bitcoin holder — and warns a falling Bitcoin price, noteholder repayment demands due November 30, and the TAE Technologies merger's share dilution could erase the gains.
