SpaceX Q2 Earnings Beat Forecasts as Bitcoin Holdings Shrink

SpaceX posted second‑quarter revenue of $7.8 billion, surpassing Wall Street’s forecast of $6.9 billion.

Revenue Surge Offsets Shrinking Losses

The company reported a net loss of $541 million, a marked improvement from the $1 billion loss in the same quarter a year earlier; adjusted EBITDA climbed to $3.5 billion, nearly tripling its prior level.

Bitcoin Holdings Contract and Market Ripple

At quarter‑end, SpaceX’s digital assets were valued at $1.10 billion, down from $1.64 billion the previous quarter. While the firm disclosed holding 18,712 BTC, it did not explain the valuation drop.

Employee Share Unlock and Ownership Landscape

Approximately 912 million shares held by employees and early backers will become eligible for sale on August 6, two months after the IPO, potentially expanding the public float and exerting downward pressure on the stock.

Key Metrics at a Glance

■Revenue: $7.8 billion (+13% QoQ)

■Net Loss: $541 million (versus $1 billion a year earlier)

■Digital Asset Value: $1.10 billion, down from $1.64 billion last quarter

■Bitcoin Quantity: 18,712 BTC (as disclosed)

SpaceX’s top‑line growth is being driven by accelerating Starlink and AI businesses, yet the ~33% drop in Bitcoin valuation signals a volatile digital‑asset exposure. The upcoming 912 million share unlock on Aug. 6 could introduce a supply shock, pressuring the stock lower. Crypto investors should weigh both the downside risk and potential upside from Bitcoin’s price swings, which now directly influence SpaceX’s balance sheet.