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. 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.

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