SpaceX Takes $540 Million Bitcoin Hit as New Accounting Rules Come into Effect

SpaceX's first public earnings report as a newly listed company revealed a significant loss related to its bitcoin holdings. The company reported a $540 million decline in the value of its bitcoin assets, from $1.64 billion at the end of 2025 to $1.10 billion at the end of June 2026.

This decline is directly attributed to the fall in bitcoin's price over the past six months, from around $87,600 to approximately $58,800, a drop of 33%. The company holds 18,712 BTC on its balance sheet, more than double what was previously tracked by on-chain analytics firm Arkham Intelligence.

Under the new FASB fair-value accounting standard (ASU 2023-08), companies must report both gains and losses on crypto holdings through the income statement each quarter. This means that if bitcoin's price increases, SpaceX will also report a corresponding gain in its future earnings reports.