ME News report, May 11 (UTC+8): According to comprehensive disclosures from BBX cryptocurrency-related stock information, Trump Media released its Q1 financial results, reporting a net loss of $405.9 million; MARA Holdings initiated a solicitation of consent from creditors for a $600 million note issuance to advance key compliance steps for its approximately $1.5 billion acquisition; Riot Platforms reported its first-quarter data center revenue of $33.2 million and expanded its AMD contract to 50 MW.
[Key Updates]
- Trump Media & Technology Group (NASDAQ: DJT) Q1 earnings report as of May 9: Revenue of $8.71 million (+6% YoY); net loss of $405.9 million (EPS -$1.47), primarily due to $244 million in unrealized BTC losses and $108.2 million in equity investment losses (total non-cash losses of $368.7 million); operating cash flow of +$17.9 million (from covered call options on staked BTC); as of March 31, held 9,542.16 BTC (cost basis $113 million, fair value $647.1 million, unrealized loss of ~$482 million), and 756.1 million CRO (fair value $53 million); total financial assets of $2.1 billion, debt of $958.6 million; BTC holdings, based on early May prices, have rebounded to approximately $770 million; CEO Devin Nunes resigned on April 22; stock price at ~$8.93 (down over 90% from its post-IPO high of $97.54 in 2024).
- MARA Holdings, Inc. (NASDAQ: MARA) launched a solicitation of consents on May 10 from holders of Long Ridge Energy’s $600 million senior secured notes, aiming to amend the covenants to exclude MARA’s acquisition of Long Ridge from triggering a “change of control” mandatory repurchase provision (which would otherwise require repaying all notes at 101% of par value) and to designate MARA and its affiliates as “Permitted Holders.” This is a critical compliance step to complete the approximately $1.5 billion acquisition of Long Ridge, including the assumption of at least $785 million in debt; Long Ridge’s assets include a 505 MW combined-cycle natural gas power plant in Ohio and over 1,600 acres of land, expected to generate approximately $144 million in annualized adjusted EBITDA. Upon closing, MARA’s owned and operated power capacity will increase by approximately 65%. The transaction is expected to close in the second half of 2026, subject to HSR and FERC approvals. ⚠️ MARA’s Q1 2026 financial results will be released today, May 11, after market close.
Riot Platforms, Inc. (NASDAQ: RIOT) Q1 Earnings: Total revenue of $167.2 million (up 3.6% year-over-year, exceeding expectations of $122–131 million); data center revenue of $33.2 million (first quarter in company history); AMD added a 25 MW contract during the quarter, bringing total committed capacity to 50 MW; mining revenue of $111.9 million, producing 1,473 BTC, with deployed hash rate of 42.5 EH/s (+26%); direct mining cost of $44,629 per BTC (excluding depreciation); electricity cost of $0.03/kWh (-21%); holding 15,679 BTC (approximately $1.1 billion) and $282.5 million in cash; net loss of $500.5 million (including a $326.7 million non-cash impairment of BTC fair value); stock price rose approximately +10% on the day; expects annualized data center operational lease revenue of $37.8 million by end-2026 and $55.6 million by end-2027. (Source: BBX)
