SpaceX Holds $603M in Bitcoin Despite $5 Billion Loss in 2025

SpaceX is maintaining its cryptocurrency position even as the company faces significant financial headwinds. According to Arkham Intelligence data and a report from The Information, the aerospace giant is currently holding 8,285 BTC valued at approximately $603 million, stored in Coinbase Prime custody, while recording a net loss of nearly $5 billion for the 2025 fiscal year.

This marks a dramatic swing from 2024, when SpaceX posted roughly $8 billion in profit on revenues between $15 billion and $16 billion. Although the company grew its top line to $18.5 billion in 2025, the February acquisition of Elon Musk's artificial intelligence company xAI pushed operating costs beyond total revenue, resulting in the steep financial loss.

Despite the red ink on its balance sheet, SpaceX has made no moves to liquidate its bitcoin holdings. On-chain transfer data reviewed by CoinDesk shows the last notable activity was an internal wallet rebalance approximately four months ago, involving transfers of 614 BTC and 1,021 BTC between the company's own addresses. Since mid-2024, the holdings have remained largely unchanged, though their dollar value peaked above $1.6 billion during bitcoin's October 2025 all-time high.

The decision to hold rather than sell a volatile digital asset during a period of heavy losses speaks volumes about how Musk and SpaceX's leadership view bitcoin as a long-term treasury reserve asset rather than a short-term liquidity tool. This strategy mirrors the approach taken by other major corporate bitcoin holders like Strategy, Marathon Digital, and Riot Platforms — companies SpaceX now trails as the fourth-largest known corporate BTC holder.

With SpaceX reportedly filing for an IPO, its bitcoin position will likely appear in public disclosures for the first time, potentially triggering fair-value accounting requirements under new FASB standards that took effect in late 2025 — adding another layer of scrutiny to the company's unconventional treasury strategy.