BitGo doubles revenue to $3.8 billion but net loss widens in Q1
The Block
BitGo reported a 112.6% revenue increase to $3.8 billion for Q1 2026, though net losses widened to $60.7 million due to market volatility.Summary
BitGo Holdings saw its revenue climb 112.6% year-on-year to $3.8 billion in the first quarter of 2026, primarily fueled by strong digital asset sales and growth in its Stablecoin-as-a-Service business. Despite this top-line performance, the company recorded a net loss of $60.7 million, up from $25.7 million in the previous year.
The firm attributed the increased loss to non-cash mark-to-market impacts on its bitcoin treasury and higher expenses related to its recent IPO. CEO Mike Belshe emphasized that the company continues to focus on long-term institutional growth and infrastructure scaling, particularly in tokenized assets and stablecoins, despite the current challenging market environment.
(Source：The Block)