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BitGo Announces Third Quarter 2026 Financial Results

BTGO
  • BitGo Holdings reported Q3 2026 net income of $44.1 million, driven by a $71.5 million unrealized gain on its digital asset treasury.
  • The company acquired NYDIG's institutional trading business to expand capabilities in derivatives, structured products, & financing.
  • Normalized assets on the platform increased 32% year-over-year to $59.9 billion, while normalized assets staked rose 41% year-over-year to $10.5 billion.
  • Total revenue for the quarter was $2.85 billion, a 50.9% decline year-over-year & 34.1% decline sequentially due to softer trading activity.
  • Adjusted EBITDA loss was $4.3 million, a slight sequential increase from $4.2 million in Q2 2026.
  • BitGo repurchased $24.7 million of common stock under its $50 million authorization program during the quarter.
  • Diluted earnings per share were $0.36, compared to a loss of $0.16 per share in Q2 2026.
  • The company held $143.2 million in cash & cash equivalents with no corporate-level debt aside from lending activity borrowings.
  • BitGo's corporate treasury held 2,399 company-owned Bitcoin with a fair value of $200.4 million as of September 30, 2026.
  • Digital asset sales revenue was $2.72 billion, down 52% year-over-year, while staking revenue was $68.2 million, down 24.1% year-over-year.
  • Stablecoin-as-a-Service revenue grew 52.5% year-over-year to $37.4 million, supported by higher reserve balances & fixed fees.
  • The number of clients on the platform reached 6,640, representing a 33.1% increase year-over-year.
  • Management highlighted a strategic focus on tokenized equities & expanding the Go Network to allow institutions to hold assets in a regulated national bank.
  • BitGo will host a conference call on November 9, 2026, at 5:00 p.m. Eastern Time to discuss these results.