BitGo, a publicly listed digital asset infrastructure company, posted a net loss of $19 million in the second quarter of 2026, despite revenue surging nearly 80% year over year to $4.3 billion. This underperformance was mainly driven by an $18.8 million unrealized loss on digital assets, compared with a $55.8 million unrealized gain a year earlier. CEO Mike Belshe attributed the weaker margins to lower spreads on certain spot transactions and a smaller contribution from derivatives. The company authorized a share repurchase program of up to $50 million and expects cost-cutting measures to generate about $15 million in annualized cash savings, including a 15% workforce reduction in June.
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