BitGo Reports Massive Revenue Growth in Q1
Crypto infrastructure company BitGo Holdings reported strong financial growth in its first quarterly earnings report since going public. The company generated $3.8 billion in total revenue during Q1 2026, marking a 112.6% increase compared to the same period last year.
Digital Asset Sales Drive Revenue Surge
BitGo said the revenue growth was mainly driven by higher digital asset sales activity and rising demand for its stablecoin services. Revenue from digital asset sales reached $3.7 billion, up 127.9% year-over-year. The company also earned $49.4 million from staking services and $25.6 million from subscriptions and related services.
Stablecoin Business Continues Expanding
The company’s Stablecoin-as-a-Service division generated $38.2 million in revenue during the quarter. This represented a 43.6% sequential increase, supported by new partnerships and growing institutional adoption. BitGo also launched BitGo Mint, a platform allowing institutions to mint, redeem, and manage stablecoins more efficiently.
Net Loss Widens Amid Market Decline
Despite strong revenue performance, BitGo posted a net loss of $60.7 million in Q1 2026. This was significantly higher than the $25.7 million loss reported a year earlier. The company said the losses were mainly caused by non-cash mark-to-market impacts linked to its Bitcoin treasury holdings and IPO-related stock compensation expenses.
