SpaceX's Lockup Expiration Looms as Bitcoin Holdings Take Center Stage

SpaceX revealed its first-ever earnings report on August 4, showcasing a significant jump in revenue and narrowing net loss. The company's Q2 2026 revenue reached $7.8 billion, a 92% increase from $4.1 billion the previous year.

The earnings report exceeded Wall Street's consensus estimate of $6.9 billion in revenue, beating it by roughly $900 million. Despite this positive news, investors are more focused on the impending lockup expiration, which will release approximately 912 million shares worth around $101 billion into the tradable float two days after the earnings release.

SpaceX also disclosed its Bitcoin holdings, revealing that it holds 18,712 BTC valued at $1.10 billion as of June 30, 2026. This is a decline of roughly 33% from the end of 2025, driven by broader crypto market weakness.