BitGo posts $19M Q2 loss despite 80% revenue surge to $4.3B
Summary
BitGo reported a $19 million net loss in Q2 2026 even as revenue jumped nearly 80% year over year to $4.3 billion and rose 14.7% from Q1. The loss narrowed from $60.7 million in Q1, but the year-over-year result was weighed down by an $18.8 million unrealized loss on digital assets versus a $55.8 million unrealized gain a year earlier. CEO Mike Belshe said results missed expectations because of lower margins and a less favorable revenue mix, including weaker spreads on some spot trades and a smaller derivatives contribution. BitGo also approved up to $50 million in share buybacks and expects about $15 million in annualized cost savings after cutting about 15% of its workforce in June. Shares fell in overnight trading.
