BitGo revenue drops 51% in third quarter as treasury gains lift net income
BitGo posted third-quarter 2026 revenue of $2.85 billion, falling 50.9% year-over-year amid soft crypto trading and a shift toward lower-margin transactions, while treasury paper gains pushed net income up 94%.
BitGo reported third-quarter 2026 revenue of $2.85 billion, marking a 50.9% drop year-over-year and a 34.1% sequential decline, according to The Block. The downturn was driven by weaker digital asset trading activity and an increased proportion of lower-margin stablecoin transactions.[2][3]
Despite the drop in revenue, net income grew 94% year-over-year to $44.1 million. The profit increase was primarily driven by a $71.5 million unrealized gain on BitGo's digital asset treasury holdings. Meanwhile, the company logged an adjusted EBITDA loss of $4.3 million.[2][4]
Both revenue and earnings fell short of preliminary analyst expectations, Coin Telegraph reported. The company trades under the ticker BTGO.[2][4]
Key facts
- BitGo reported Q3 2026 revenue of $2.85 billion, down 50.9% year-over-year and 34.1% quarter-over-quarter.
- The revenue drop was driven by weaker digital asset trading activity and a higher mix of lower-margin stablecoin transactions.
- Net income rose 94% year-over-year to $44.1 million, lifted by a $71.5 million unrealized gain on treasury crypto holdings.
- BitGo recorded an adjusted EBITDA loss of $4.3 million for the quarter.
- Both revenue and earnings missed preliminary analyst expectations.
- BitGo trades under the ticker symbol BTGO.
Sources · 4 sources
- CB
Crypto BriefingArticle ·
BitGo Q3 2026 revenue falls 50.9% to $2.85 billion as net income nearly doubles BitGo's reliance on unrealized gains and low-margin sales highlights vulnerability to market fluctuations, urging focus on sustainable growth areas. The post BitGo Q3 2026 revenue falls 50.9% to $2.85 billion as net income nearly doubles appeared first on Crypto Briefing .
Open source - TB
The Block@TheBlockCoPost on X ·
THE BLOCK: BitGo reported Q3 2026 revenue of $2.85 billion, down 50.9% year-over-year and 34.1% sequentially, driven by weaker digital asset trading activity. Net income grew 94% year-over-year to $44.1 million, primarily due to a $71.5 million unrealized gain on its digital asset treasury. Adjusted EBITDA was a $4.3 million loss. $BTGO
Open source - TB
The BlockArticle ·
BitGo revenue falls 51% in Q3 as trading slows; net income rises on treasury gains The revenue decline was driven by continued soft crypto trading environment and a higher mix of lower-margin stablecoin transactions.
Open source - CT
Coin TelegraphArticle ·
BitGo Q3 profit nearly doubles on crypto gains as revenue falls 51% BitGo’s $71 million unrealized gain on its crypto holdings helped nearly double its net income, but revenue and earnings came in below preliminary analyst expectations.
Open source