BitGo's Q1 revenue reaches $3.8 billion, with a net loss of $60.7 million

According to official sources, BitGo released its first-quarter financial report, with total revenue of $3.8 billion, representing a year-on-year increase of 112.6% and a quarter-on-quarter decrease of 38.7%; net loss was $60.7 million, compared to a net loss of $25.7 million in the same period last year. Adjusted EBITDA was a loss of $1.7 million, compared to a profit of $3.9 million in the same period last year; basic and diluted loss per share was $0.62, compared to $0.69 last year. As of March 31, the company held cash and cash equivalents of $186.6 million, and its digital asset treasury included 2,449 Bitcoin, with a fair value of approximately $167.1 million.