BitGo’s Revenue Soars to $4.3B but Q2 Loss Hits $19M

TL;DR:

• BitGo reported a net loss of $19 million in the second quarter of 2026, even as revenues grew nearly 80% year-over-year.
• An unrealized loss of $18.8 million in digital assets and weaker trading margins explain the quarter’s negative result.
• The company authorized a share buyback program of up to $50 million and expects $15 million in annualized savings after cutting 15% of its workforce.

BitGo, the digital asset infrastructure company, posted a net loss of $19 million in the second quarter of 2026, despite revenues growing nearly 80% year-over-year to reach $4.3 billion. The negative result nonetheless represented a substantial improvement over the first quarter of the year, when the net loss had reached $60.7 million.

The primary driver behind the adverse result was an unrealized loss of $18.8 million in digital assets, a sharp contrast with the unrealized gain of $55.8 million recorded in the same period the prior year. Adding to this were weaker trading margins and a less favorable revenue mix, as explained by BitGo’s own management team during the earnings presentation.

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