Home BitGo Q1 Revenue Surges 113% To $3.8B Despite $60.7M Loss

BitGo Q1 Revenue Surges 113% To $3.8B Despite $60.7M Loss

Share
BitGo Q1 Revenue Surges 113% To $3.8B Despite $60.7M Loss
News
Share

BitGo reported strong revenue growth in its latest quarterly earnings, even though the crypto infrastructure firm posted a bigger net loss due to volatile markets and IPO-related costs.

In the first quarter of 2026, the company reported total revenue of $3.8 billion, up 112.6% from the same period last year. Most of this growth came from digital asset sales, which brought in $3.7 billion. BitGo also saw more interest in its stablecoin business, with stablecoin-as-a-service revenue rising to $38.2 million.

Despite higher revenue, the company’s net loss grew to $60.7 million from $25.7 million a year ago. BitGo said this was mainly due to non-cash accounting impacts from its Bitcoin treasury and stock-based compensation expenses related to its recent public listing.

CEO Mike Belshe said that institutional demand for digital asset services is still growing, even with tough market conditions. The company is now focusing on stablecoins, tokenized assets, and institutional infrastructure, which it believes will shape the next phase of crypto adoption.

BitGo also said its new derivatives business generated nearly $3 billion in trading volume during the quarter. Its new BitGo Mint service is expected to help institutional clients issue and manage stablecoins more efficiently.

The company went public earlier this year on the New York Stock Exchange under the ticker BTGO, raising over $212 million through its IPO.

Share

Leave a comment

Leave a Reply

Latest News

Circle Buys IBM Blockchain Patent Portfolio To Build An IP Moat Over Stablecoin Rivals
News

Circle Buys IBM Blockchain Patent Portfolio To Build An IP Moat Over Stablecoin Rivals

To improve its technological standing in the digital asset sector, Circle purchased about 1,000 blockchain patents from IBM. Blockchain infrastructure, payments, banking,...

Federal Judge Pauses Minnesota Prediction Market Ban After CFTC, Kalshi & Polymarket Challenge
News

Federal Judge Pauses Minnesota Prediction Market Ban After CFTC, Kalshi & Polymarket Challenge

A U.S. federal judge has temporarily blocked Minnesota’s prediction market ban after the CFTC, Kalshi, and Polymarket challenged the state law. The...

Binance Launches Bitcoin ETF Futures Alongside Treasury ETF Contracts
News

Binance Launches Bitcoin ETF Futures Alongside Treasury ETF Contracts

Based on the ProShares Bitcoin ETF and U.S. Treasury bond ETFs, Binance introduced three new ETF-linked perpetual futures contracts. Because BITOUSDT is...

Nvidia Launches AI Security Alliance Without OpenAI, Google Or Anthropic
News

Nvidia Launches AI Security Alliance Without OpenAI, Google Or Anthropic

In an effort to develop open-source tools to enhance AI security, Nvidia has partnered with 36 top tech firms to form the...

Related Articles

Narrative Rotation Playbook: How Traders Spot The Next Hot Sector Early

Crypto does not usually move in a straight line. It moves in...

5 Best Ways To Monetize Your Idle Crypto Via Liquid Staking

Imagine you have been holding Ethereum for years. You think its price...

How To Start An AI Faceless YouTube Channel & Get Monetized

Do you want to make money from YouTube, but you don’t make...

TOP 5 AI Tokens With Strong Real World Utility

Are you looking for some AI-focused crypto projects as Artificial Intelligence (AI)...