TL;DR:
- SpaceX’s digital asset treasury decreased from $1.637 billion in December to $1.098 billion at the end of the second quarter.
- The company’s overall revenue reached $7.8 billion for the quarter, beating analyst forecasts of $6.81 billion.
- The Starlink connectivity unit generated $4.291 billion in revenue, representing a 66% year-over-year increase.
Space Exploration Technologies Corp. reported that the valuation of its digital assets decreased significantly during Q2-2026. Financial statements confirm that exposure to cryptocurrencies stood at $1.098 billion as of late June, reflecting a downward adjustment on the firm’s corporate balance sheet.
We posted our second quarter 2026 financial and operational results → https://t.co/DOfDhFnAZ5
Q2 highlights:
– Demonstrated the power of extreme vertical integration, delivering revenue growth of 92% year-over-year across Space, Connectivity, and AI
– Completed two successful… pic.twitter.com/9lWxKvtbct— SpaceX (@SpaceX) August 4, 2026
The company’s overall operating performance surpassed financial market forecasts. According to official corporate documentation, total revenue reached $7.8 billion for the period, compared to previous Wall Street estimates of around $6.81 billion.
Despite strong operating results, the carrying value of its crypto holdings experienced a 33% contraction compared to the $1.637 billion recorded at the end of December. The company does not break down the exact number of units in its quarterly balance sheet.
Financial Results and Crypto Treasury Performance
Estimates published by Grayscale calculate that the firm holds a reserve of approximately 18,712 Bitcoin on its balance sheet. Based on that figure, the value reported on June 30 implies a carrying price near $58,700 per unit.
In the spot market, Bitcoin was trading at $64,073 on Tuesday, up 1.24% over 24 hours. On-chain analysis data suggests that the reduction in assets reflects accounting valuation changes rather than massive sell-offs in the secondary market.
Rumors regarding potential liquidations flared up in July following an $88 Bitcoin transaction after several months of inactivity. Industry analysts viewed the transaction as a technical infrastructure test rather than a shift in commercial strategy.
This financial behavior mirrors the pattern shown by Tesla in July. According to the automaker’s corporate reports, the valuation of its Bitcoin reserves fell during the same period despite beating quarterly revenue targets.
The Starlink satellite connectivity business anchored the group’s operational growth. Official data shows that the division generated $1.656 billion in operating profit, up 79% year-over-year.
Starlink’s global user base reached 12 million subscribers as of late June. Average revenue per user remained steady at $66 per month compared to the first quarter of the year.
Meanwhile, the artificial intelligence segment generated $2.561 billion. According to information provided by the company, year-over-year growth reached 247%, driven by $14.1 billion in new cloud service agreements.
Operating losses for the AI unit narrowed to $1.257 billion. The figure came in below market consensus expectations of $2.39 billion.
Consolidated adjusted EBITDA reached $3.538 billion for the quarter. Previous Wall Street projections had placed the metric near $2 billion.
Capital Expenditures and Corporate Plans
Total capital expenditures reached $18.369 billion between April and June. The artificial intelligence division absorbed $15.828 billion of that budget for infrastructure expansion.
Contracted processing capacity expanded from 1.0 to 1.4 gigawatts during the quarter. SpaceX closed the period with $100 billion in cash and marketable securities on its balance sheet.
The firm backlog reached $47.5 billion at the end of June. Management chose not to issue financial guidance for subsequent quarters.
The space segment posted revenue of $962 million, representing a 29% increase. However, the division’s operating loss widened to $542 million due to ongoing investment in Starship development.
SpaceX confirmed the signing of a $60 billion agreement to acquire the coding tool Cursor. Regulatory filings project the transaction to close within the current quarter.
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