SpaceX posted $7.8 billion in revenue in the second quarter of 2026, beating Wall Street analyst expectations of $6.9 billion. This achievement was also validated by on-chain monitor @WatcherGuru via platform X with a post that garnered 3,473 likes.
The strong performance during the April-to-June period helped narrow the company’s net loss to $541 million. The Starlink satellite internet service remains at the forefront as the primary profit generator. Cash flow from growing Starlink subscribers continues to serve as the financial fuel needed to fund the development of the Starship rocket project.
But the operational reports from this commercial satellite sector had to be offset by losses on their crypto balance sheet.
The Burden of 18,712 Bitcoin on Financial Statements
Data indicates that SpaceX holds 18,712 BTC. The value of these crypto holdings shrank sharply from $1.64 billion at the end of 2025 to just $1.10 billion as of June 30, 2026. This $540 million write-down on the accounting books went hand in hand with a 33% drop in the price of Bitcoin during the first half of this year.
Stock Correction and August Sell-off
Although revenue beat analyst targets, the market reaction said otherwise. The SPCX share price fell 6% in the after-hours trading session, erasing a nearly 10% gain that had occurred early in the regular session. The stock price remains trapped below the $135 level established during the $86 billion initial public offering in June.
Supply-side pressure could potentially increase in a matter of days. The IPO lock-up expiration is scheduled for August 6, 2026. At least 912 million shares held by employees and early investors will finally be freed to be offered to the public market.
Although this sell-off schedule looms over the exchange price, securities analysts are sticking to a positive long-term trend. Research firm Bernstein announced it would maintain an Outperform rating on SPCX stock and set a price target of $239.
Who is Renting SpaceX’s Orbital Computing?
While the stock price may be under pressure and Bitcoin losses continue to erode the balance sheet, the company’s new satellite infrastructure project is starting to bring in real cash contracts. SpaceX is accelerating the development of data centers operating directly in outer space orbit.
This vacuum-space computing service has secured heavyweight buyers. AI firm Anthropic has secured this orbital computing capacity and agreed to pay $1.25 billion per month until May 2029.
For SpaceX, Bitcoin price movements may temporarily pressure profit margins, but their cash flow future relies entirely on satellite launch dominance and cloud computing outside the Earth’s atmosphere.
Reported from CoinDesk.
Disclaimer: This article is for informational and educational purposes only, not financial advice. Cryptocurrency assets are highly volatile and carry significant risk. Always do your own research (DYOR) and never invest more than you can afford to lose.
