Musk’s SpaceX holds $603 million in bitcoin despite $5 billion loss stemming from xAI

A report by The Information published late Friday on the loss of nearly $5 billion for 2025, according to Arkham Intelligence data and a report from SpaceX is sitting on 8,285 $BTC worth $603 million in Coinbase Prime custody.

Loss comes as a sharp turn from ten years earlier when SpaceX made around $8 billion on revenues estimated at $15 billion to $16 billion.

revenues grew to $188 per cent for . A combined xAI, Elon Musk’s artificial intelligence venture acquired in February and the integration of XAI led costs past the top line for an estimated 5 billion in 2025.

However, the company’s bitcoin position has not been changed despite these losses and no changes to its status. CoinDesk analyzes transfer history of the last major movement, which traces about four months ago to an internal rebalance (644 $BTC and 1,021 $CTC) between SpaceX’s own wallets.

Since mid-2024, holdings of balance history chart shows have been stable since peaking above $1 in the charts. During the October 2025 all-time high, 6 billion was worth.

A company that recently posted a $5 billion loss and is actively seeking an IPO, holding $603 million in ‘funny asset’ rather than liquidating it to improve the balance sheet says Musk (or the broad) see bitcoin as treasury assets.

SpaceX’s position is now the fourth-largest known corporate bitcoin holding behind Strategy, Marathon Digital, and Riot Platforms.

The new FASB rules – which took effect in late 2025, would force a fair-value accounting decision under the new regulations of SpaceX last month to disclose the bitcoin position in public filings for the first time.

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