BitGo's third-quarter net income was 44100000 USD, with total revenue down 50.9% year over year.
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AT A GLANCE
Reports indicate that BitGo's third-quarter net revenue was 44100000 USD, but total revenue declined 50.9% year-over-year, with adjusted EBITDA showing a loss of 4300000 USD.
Article
BitGo's third-quarter net income was 44100000 USD, with total revenue down 50.9% year-on-year
PANews November 10 news, according to Business Wire, digital asset infrastructure company BitGo released its latest financial report. The company's net income for the third quarter of 2026 was 44100000 USD, mainly driven by the appreciation of its digital asset treasury, compared with a net loss of 19000000 USD in the previous quarter. Adjusted EBITDA loss was 4300000 USD. Total revenue was 2850000000 USD, down 50.9% year-on-year, mainly affected by reduced digital asset sales activity due to a weak crypto trading environment. As of September 30, platform assets were 59900000000 USD and staked assets were 10500000000 USD; after adjustment at a uniform price, platform assets and staked assets increased 32% and 41% year-on-year, respectively. During the quarter, BitGo completed the acquisition of NYDIG's institutional trading business and expanded its OKX off-exchange settlement integration. The company also repurchased 24700000 USD of common stock. At 9...
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Key points
01
The report, citing Business Wire, stated that BitGo's net income for the third quarter of 2026 was 44100000 USD, compared to a net loss of 19000000 USD in the previous quarter.
02
The report said that net income was mainly driven by the appreciation of digital asset treasury.
03
BitGo reported an adjusted EBITDA loss of 4300000 USD in the third quarter.
04
Total revenue for the third quarter was 2850000000 USD, down 50.9% year over year; the report attributed the decline to reduced digital asset sales activity caused by a weak crypto trading environment.
05
As of September 30, platform assets were 59900000000 USD and staked assets were 10500000000 USD; after adjustment at a uniform price, the two increased year-on-year by 32% and 41%, respectively.
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Reports say that BitGo completed the acquisition of NYDIG's institutional trading business this quarter and expanded its OKX OTC settlement integration.
07
BitGo repurchased 24700000 USD of common stock in the quarter.
AI-assisted interpretation
The following is analysis, separate from reported facts. Verify important claims independently.
Net income, total revenue, and adjusted EBITDA are different financial metrics. In the report, net income was positive, but total revenue declined year over year, and adjusted EBITDA remained at a loss; the report also mentioned the scale and changes in platform assets and pledged assets.
Why it matters to readers
These figures present several operating signals for the quarter described in the report: net income was positive, but total revenue declined and adjusted EBITDA was negative. Based solely on this truncated report, it is impossible to determine the full context of the changes.
When reading financial report news, you can distinguish between net income, total revenue and EBITDA, and pay attention to the comparison periods, attributions and asset data provided in the reports.
Risks and unknowns
The original text is truncated at "press 9...", so the subsequent content cannot be confirmed.
The provided main text does not contain complete financial statements or independently verifiable materials.
The report did not provide the specific amount of impact that the appreciation of digital asset treasury holdings had on net income.
The report does not provide actual usage or revenue data for OKX's OTC settlement integration.
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Net income
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