SpaceX reported a significant financial loss of nearly $5 billion in 2025, despite holding 8,285 bitcoins valued at approximately $603 million. The company's revenue increased to $18.5 billion, but integration costs from the merger with Elon Musk's AI company, xAI, surpassed revenue growth. This marks a stark contrast to 2024, when SpaceX generated $8 billion in profit. SpaceX's Bitcoin holdings have remained stable since mid-2024, with the most recent major fund movement occurring four months ago. The company is the fourth-largest corporate holder of Bitcoin globally. SpaceX has applied for an IPO, which will require public disclosure of its Bitcoin holdings under new FASB standards by the end of 2025.