Following the release of the performance in the second quarter of 2026, market attention was focused on the direct impact of the decline in trade on exchange income. The company is moving from surplus to loss in the current quarter, and the main source of revenue remains transaction fees, with a relatively single business structure.

2nd quarter from profit to loss

Bithumb 2nd quarter net loss of 21.8 billion won, approximately $15.7 million. During the same period last year, the company recorded 22 billion won net profits. In the second quarter, income fell by 35.8 per cent, to 86.3 billion won, and business profits fell to 12.1 billion won.

The first half of the year was weaker. Bithumb ' s net loss in the first six months increased to 10,8.7 billion won, with a decline in income of 48.7 per cent, to 16,88.8 billion won, and a significant decline in operating profits of 83.4 per cent, to 14.9 billion won.

Excessive revenue from fees

Almost all of the company ' s operating income comes from trade commissions. Local reports indicate that in the second quarter, some 8,628.8 billion won were generated for handling fees and only about $3.8 million was earned for other operations, such as lending and market information services.

This means that after the cooling of the Korean spot deal, Bitumb's income was quickly affected. The company also mentioned that changes in the valuation of virtual holding of assets had slowed down net profit performance.

  • Second quarter revenue: 86.3 billion won
  • 2nd quarter net loss: 21.8 billion won
  • Net loss for the first half of the year: 10,87 billion won

We're still moving on.

Bithumb is still advancing the 2028 listing target. The three-phase road map for corporate disclosure included the completion of internal controls and preparation for the conversion of IFRS in Korea in 2026, the submission of pre-trial applications and the completion of audits in 2027.

The company also signed a consultancy agreement with Samjong KPMG until the end of 2027 and indicated that the timetable could be adjusted with market and regulatory review. Bithumb is also splitting up part of the business to clarify responsibilities and assess valuation and legal risks.