BitGo posted $4.3 billion in revenue in the second quarter of 2026 but recorded a net loss of $19 million. Cointelegraph reported on Aug. 13 that revenue rose about 80 percent from a year earlier, but unrealised cryptocurrency losses and weaker trading margins weighed on profitability.

The second-quarter net loss narrowed from $60.7 million in the first quarter. Revenue rose 14.7 percent from the previous quarter.

Changes in gains and losses from cryptocurrency valuation led to a swing into the red. BitGo booked $18.8 million in unrealised cryptocurrency losses in the second quarter. It recorded $55.8 million in unrealised gains in the same period a year earlier.

Mike Belshe (마이크 벨시), BitGo's chief executive officer, said in its earnings release that second-quarter financial performance fell short of expectations. He said profitability deteriorated despite higher revenue due to low margins and an unfavourable revenue mix. He also cited narrower spreads in some spot trading and a smaller contribution from derivatives as factors behind weaker margins.

BitGo also approved a share buyback programme of up to $50 million. It expects annual cash savings of about $15 million from cost-cutting measures. It said it expects costs to fall further in the third quarter after cutting about 15 percent of its workforce in June.