BitGo First-Quarter Revenue More Than Doubles but Loss Widens on Bitcoin Drop, IPO Costs

BitGo provides digital-asset custody and infrastructure services, and its results reflect institutional demand for trading and safekeeping. Revenue grew sharply in the first quarter of 2026, showing that the business continued to expand. However, Bitcoin price volatility and listing costs eroded earnings, underscoring that revenue growth at a crypto company does not necessarily mean lower financial risk.

BitGo reported first-quarter 2026 revenue of $3.8 billion, more than double the year-earlier figure, while its net loss widened to $60.7 million. The company said the loss mainly reflected unrealized losses on treasury assets caused by Bitcoin’s price decline, as well as stock-based compensation expenses related to its IPO, pressuring net assets and quarterly earnings.