BitGo Reports $3.8B Q1 Revenue, Double Year-Over-Year, Yet Net Loss Widens to $60.7M

Digital asset infrastructure firm BitGo Holdings reported first-quarter revenue of $3.8 billion, more than doubling from $1.77 billion a year earlier. However, the NYSE-listed company's net loss widened to $60.7 million from $25.7 million in Q1 2025, as non-cash Bitcoin impairments and IPO-related expenses weighed on results.

BitGo attributed the wider loss primarily to mark-to-market impacts from its Bitcoin treasury, which held 2,449 BTC valued at approximately $167.1 million as of March 31. Bitcoin fell roughly 23.8% during the quarter. Stock-based compensation expense from the company's January IPO also contributed to the loss.