An $18.8 million unrealized digital asset loss and weaker trading margins pushed BitGo into the red in the second quarter.
BitGo, a publicly listed digital asset infrastructure company, posted a $19 million net loss in the second quarter of 2026 despite revenue surging nearly 80% year-on-year to $4.3 billion.
BitGo (BTGO) on Wednesday reported that its net loss narrowed from $60.7 million in Q1, while revenue rose 14.7% quarter over quarter. The year-on-year swing to a loss largely reflected an $18.8 million unrealized loss on digital assets, compared with a $55.8 million unrealized gain a year earlier.
BitGo CEO Mike Belshe said during the earnings call that Q2 financial performance fell short of expectations.
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