Digital asset infrastructure company BitGo Holdings announced its financial results for the third quarter ended September 30, 2026, reporting a net income of $44.1 million. The profitable quarter marks a reversal from a net loss of $19.0 million in the previous quarter and a 94.4% increase compared to $22.7 million in Q3 2025.
The company’s bottom-line growth was primarily driven by a $71.5 million unrealized appreciation gain on its digital asset treasury during the quarter. Total revenue reached $2.85 billion, representing a 34.1% sequential decline and a 50.9% decrease year-over-year, largely due to lower crypto trading activity affecting digital asset sales. Total revenue after direct costs stood at $37.3 million. Diluted earnings per share were reported at $0.36, while Adjusted EBITDA posted a loss of $4.3 million.
Institutional metrics showed underlying growth, with normalized assets on the platform rising 31.9% year-over-year to $59.9 billion and normalized staked assets increasing 41.1% to $10.5 billion. Unadjusted assets on the platform ended the quarter at $59.9 billion, expanding to $83.0 billion based on September 30 digital asset prices.
Strategic operational milestones during Q3 included completing the acquisition of NYDIG’s institutional trading business, which broadened BitGo’s capabilities in derivatives, structured products, and financing. The company also expanded its off-exchange settlement integrations with OKX internationally and launched BitGo Prime’s Global Liquidity Layer.
BitGo maintained a strong balance sheet, ending the quarter with $143.2 million in cash and cash equivalents, zero corporate debt outside lending facilities, and 2,399 Bitcoins in its corporate treasury valued at $200.4 million. During the quarter, BitGo also repurchased $24.7 million of common stock under its authorized $50 million share buyback program.
