SpaceX sits at 8,285 $BTC Coinbase Prime has $603 million worth of assets under custody, but reported losses of nearly $5 billion in 2025, according to data from Arkham Intelligence and an Information report released late Friday.
The loss marks a sharp reversal from the previous year, when SpaceX generated a profit of about $8 billion on revenue estimated at $15 billion to $16 billion.
Revenue rose to $18.5 billion in 2025, but costs rose above the line due to the integration of Elon Musk’s artificial intelligence venture xAI, which it acquired in February.
Despite these losses, the company’s Bitcoin position remains unchanged. According to the remittance history analyzed by CoinDesk, the last significant move was an internal rebalance about four months ago, with 614 $BTC and 1,021 $BTC Move between SpaceX’s own wallets.
The balance history graph shows that holdings peaked at an all-time high of over $1.6 billion in October 2025, before remaining stable since mid-2024.
For a company that just posted a $5 billion loss and is aggressively pursuing an IPO, holding on to $603 million without liquidating highly liquid assets to shore up its balance sheet is an indication of how Musk (or broadly) views Bitcoin as a financial asset.
SpaceX currently ranks as the fourth-largest known corporate Bitcoin holdings, behind Strategy, Marathon Digital, and Riot Platforms.
CoinDesk reported last month that SpaceX has filed for an IPO that would disclose its Bitcoin position for the first time in public filings and could be forced to make fair value accounting decisions under new FASB rules that take effect in late 2025.
