Bithumb reports 48.7% first-half revenue drop and net loss of 108.7 billion won

Bithumb has released its financial results for the second quarter of 2026, showing a sharp year-over-year decline across key metrics in the first half of the year. The South Korean crypto exchange said first-half revenue came in at 168.8 billion won, or about $109 million, down 48.7% from a year earlier. Operating profit fell 83.4% to 14.9 billion won, roughly $9.6 million, while net loss reached 108.7 billion won, or about $70.1 million. For the second quarter alone, Bithumb posted revenue of 86.3 billion won, about $55.7 million, marking a 35.8% year-over-year decline. Operating profit for the quarter totaled 12.1 billion won, or around $7.8 million, down 44.0% from the same period last year. Bithumb said the weaker performance was mainly tied to persistently high interest rates in the United States. The exchange also said investors in South Korea and other markets shifted capital and attention toward equities linked to AI and semiconductors, which reduced activity in the virtual asset trading market.