Key Highlights
- SpaceX maintains a position of 8,285 BTC valued at roughly $603 million through Coinbase Prime custody
- The aerospace company shifted from an $8 billion profit to a $5 billion deficit in 2025
- Despite revenue climbing to $18.5 billion, expenses from the xAI integration exceeded earnings
- The company’s bitcoin holdings have stayed static since the middle of 2024
- SpaceX now ranks as the fourth-biggest known corporate bitcoin holder
Elon Musk’s SpaceX recorded a deficit approaching $5 billion for 2025, as disclosed in a Friday report by The Information. This represents a dramatic shift from the approximately $8 billion in profit the aerospace giant generated during the previous year.
https://x.com/blckchaindaily/status/2043174140723798502?s=20
Interestingly, revenue figures told a different story. The company’s income reached $18.5 billion in 2025, representing an increase from the $15 billion to $16 billion range estimated for 2024. However, operational costs associated with incorporating xAI—Elon Musk’s artificial intelligence venture purchased in February 2025—caused total expenditures to surpass income.
Even with this significant financial setback, SpaceX hasn’t liquidated any of its bitcoin reserves. Blockchain analytics from Arkham Intelligence confirm the company continues holding 8,285 BTC stored in Coinbase Prime custody, currently valued at approximately $603 million.
The most recent on-chain activity involved an internal wallet reorganization roughly four months prior. Two separate transactions—transferring 614 BTC and 1,021 BTC respectively—occurred between SpaceX-controlled addresses. Crucially, no bitcoin was liquidated to the market.
SpaceX’s crypto holdings reached their peak valuation exceeding $1.6 billion when Bitcoin hit its all-time high in October 2025. The actual BTC balance has remained consistent since mid-2024.
This positioning establishes SpaceX as the fourth-largest corporate bitcoin holder publicly known, trailing only Strategy, Marathon Digital, and Riot Platforms.
Significant Digital Asset Amid Financial Strain
For an organization gearing up for a public offering while managing a $5 billion loss, retaining more than $600 million in a highly volatile digital asset represents a deliberate strategic decision. SpaceX has shown no indication of selling the position to strengthen its financial statements.
According to CoinDesk’s reporting from last month, SpaceX submitted documentation for an IPO. Once these filings become publicly available, the bitcoin holdings will be disclosed in official regulatory documents for the first time.
This timing is significant given the new FASB accounting regulations that became effective in late 2025. These standards require companies to record cryptocurrency holdings at fair market value, which means bitcoin price fluctuations will directly impact SpaceX’s reported financial performance.
IPO Disclosure Implications for Bitcoin Transparency
Following SpaceX’s transition to a publicly traded company, its bitcoin treasury will face the same level of examination as any other asset on its balance sheet. Market participants and financial analysts will gain access to track this position through regular quarterly disclosure reports.
The company’s choice to maintain its holdings despite a $5 billion deficit indicates that leadership considers bitcoin a strategic long-term treasury reserve rather than a speculative short-term investment.
SpaceX becomes part of an emerging group of corporations adopting this bitcoin treasury strategy. While Strategy continues dominating as the largest corporate holder by a substantial margin, SpaceX’s $603 million position establishes it as a significant player in this category.
Blockchain data from Arkham confirms no recent withdrawals. Based on the most current on-chain evidence available, SpaceX’s complete holding of 8,285 BTC remains fully preserved.
