Crypto Earnings Season Begins with Big Losses Looming
Three cryptocurrency companies are set to report their quarterly earnings this week, each coming off a quarter of significant losses. Bitdeer (BTDR), Forward Industries (FWDI), and Bit Digital (BTBT) will reveal how deep the damage was from last quarter's downturn in major tokens such as Bitcoin (BTC), Solana (SOL), and Ethereum (ETH).
Bitdeer, which reports its second-quarter 2026 results on Monday, saw a net loss of $159.5 million in Q1 due to weaker cryptocurrency prices. However, revenue rose to $188.9 million, with adjusted EBITDA remaining positive at $14.4 million. The company's mining output surged in June, reaching 990 BTC, up 388% year-over-year.
Forward Industries will report its fiscal third-quarter results on Wednesday and posted a net loss of $283.1 million in Q2 largely due to Solana-related write-downs. Revenue more than quadrupled year-over-year to $13.0 million. The company had acquired over 500,000 SOL during the quarter at an average price of about $79 per token.
Bit Digital will close out the week with its earnings report on Thursday and reported a net loss of $146.7 million in Q2 as Ethereum's price downturn cut deep. A $121.1 million hit on digital assets drove most of the damage, with revenue falling 13.6% to $27.9 million.