BitGo posts wider Q1 loss despite revenue more than doubling

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BitGo KPIs. Source: BusinessWire Stablecoin-as-a-service revenue jumped 43.6% to $38.2 million, while staking revenue dropped 66.2% to $49.4 million amid lower token prices. BitGo ended the quarter with $186.6 million in cash and held 2,449 Bitcoin valued at approximately $167.1 million. BTGO shares slipped 1.09% in overnight trading to $11.78 after the earnings release, according to Yahoo! Finance. Related: BitGo launches portfolio-based crypto lending platform for institutions A string of crypto companies reported deepening losses in the first quarter of 2026 amid the market decline. Coinbase swung to a $394.1 million net loss, missing revenue estimates of $1.5 billion with $1.41 billion. Exodus Movement more than doubled its losses to $32.1 million as revenue dropped 36.8% and active users slid. Bitcoin miners, including Riot Platforms, Core Scientific, CleanSpark and TeraWulf, all posted widening losses in Q1 2026, with MARA topping the group at a $1.3 billion net loss, roughly $1 billion of which stemmed from non-cash mark-to-market adjustments on Bitcoin holdings. Magazine: Guide to the top and emerging global crypto hubs — Mid-2026 More on the subject

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