Bitgo Revenue Jumps 80% to $4.3B as Stablecoin Demand Grows

Bitgo reported $4.3 billion in second-quarter revenue, up nearly 80% from a year earlier, as trading and stablecoin activity increased. The company still posted a $19 million net loss while cutting costs, expanding AI use and authorizing a $50 million share buyback.

Bitgo reported a sharp increase in second-quarter revenue as institutional demand for digital-asset infrastructure continued to grow, though weaker trading margins and crypto mark-to-market losses kept the company in the red.

Bitgo posted a $19 million net loss, compared with a $38.3 million profit a year earlier. Results included an $18.8 million unrealized loss on digital assets, versus a $55.8 million unrealized gain in the prior-year period.

Bitgo’s client count rose 26% year over year to 5,833. Normalized assets on the platform increased 31% to $65.2 billion, while normalized assets staked climbed 36% to $11.9 billion. Staking revenue reached $64.7 million, up 31% from the previous quarter, although lower take rates pressured profitability.

Bitgo also highlighted its role in DTCC’s post-quarter demonstration of tokenized securities, as well as its work supporting Canton Network and Figure.

The company is tightening spending while investing in newer technologies.

Bitgo said it expanded its use of artificial intelligence across engineering and operations to speed software development, automate manual work and improve efficiency. Cost-cutting measures are expected to generate about $15 million in annualized cash savings.

Bitgo ended June with $159 million in cash, no corporate-level debt, and 2,523 company-owned bitcoin valued at about $147.7 million. It also authorized a share repurchase program of up to $50 million.

The next challenge is turning platform growth into wider margins. Bitgo is adding clients and assets quickly, but its second-quarter results show that scale alone does not yet guarantee stronger earnings.