BitGo stock rises 5% as Q3 profit jumps 94% despite revenue slump

BitGo shares have gained nearly 5% in regular trading as the crypto custody company reported a 51% drop in third-quarter revenue but nearly doubled its net income through gains on its digital asset holdings. Summary BitGo shares climbed 4.94% Monday before the company disclosed third-quarter revenue fell 50.9% annually overall. BitGo reported $44.1 million in net income, supported by $71.5 million in unrealized treasury gains. Digital asset sales generated $2.72 billion, although transaction costs left only $4.2 million contribution margin. Normalized platform assets rose 31.9% annually, while reported assets fell as cryptocurrency prices declined overall. BitGo acquired NYDIG’s institutional trading business and repurchased $24.7 million of shares during Q3 2026. According to BitGo’s November 9 earnings release, revenue fell to $2.85 billion from $5.81 billion a year earlier, while net income rose 94.4% to $44.1 million. The company attributed the revenue decline to weaker cryptocurrency trading and a higher proportion of lower-margin stablecoin transactions. BitGo stock gains 4.94% before earnings release BitGo Holdings (NYSE: BTGO) closed Monday’s regular trading session at $5.1...