BitGo Revenue Jumps 80% to $4.3B in Q2 Despite Net Loss

BitGo reported strong revenue growth for the second quarter of 2026, even as the firm posted a net loss tied to falling crypto values.  In a disclosure released, the company shared that its quarterly revenue jumped to $4.33 billion. This is up 79.6% from $2.41 billion in the last year and 14.7% higher than the previous quarter.

BitGo's net loss narrows from the first quarter

The company said the growth it saw was due to the higher digital asset sales and the expansion of its stablecoin-as-a-service business. The firm also reported $159 million in cash holdings, $147.7 million worth of BTC on its books, and an authorized $50 million share repurchase program. 

BitGo’s client numbers also grew 26%, and normalized assets on the platform rose 31% to $65.2 billion.

Chief Financial Officer Ed Reginelli said the firm has the financial flexibility to invest in its top businesses. 

"We have the financial flexibility to invest behind our highest-priority opportunities while maintaining discipline around costs and capital allocation," he said. "As we enter the second half, our focus is translating continued business growth into stronger earnings, disciplined capital allocation, and more durable financial performance."

The firm has been making moves to keep its growing user base. For instance, BitGo launched a MICA-compliant exchange to maintain its business in Europe.

Meanwhile, the company still recorded a net loss of $19 million in the second quarter, a fall from its net income of $38.3 million in the same period last year. 

The loss is still an improvement from the $60.7 million loss reported in the first quarter of 2026. The company attributed the year-over-year swing mainly to an $18.8 million unrealized loss on digital assets in the second quarter.

Adjusted EBITDA also came in negative, at a loss of $4.2 million, compared with a gain of $3 million in the second quarter of 2025. Chief Executive Mike Belshe said the company had cut down its cost structure during the quarter. This was thanks to the staff reduction in June, when the crypto custodian cut its workforce by 15%.

Firm launches tool that checks BTC’s exposure to quantum risk

In another development, BitGo had launched a free public tool that lets anyone check how exposed their Bitcoin holdings may be to future quantum computing attacks. This is done simply by entering their wallet addresses. 

The tool, called the Quantum Resistance Score, allows users to submit one or more BTC addresses and see what share of their holdings sit in addresses with exposed public keys. It uses only public onchain data. It does not need an account or wallet connection, and does not store addresses that are submitted.

This new public checker comes after the other quantum-risk tools the company launched for institutional clients back in July.

Many firms have been working towards combating this risk. Just last month, Galaxy announced the launch of a Bitcoin Quantum Readiness Initiative. The firm invested $5 million in developer grants to prepare the network for quantum risk. Jim Cramer also recently said he plans to sell his BTC due to this risk.