According to reports from Yonhap News Agency, Bithumb recorded a 21.8 billion won ($15.7 million) net loss for the second quarter of 2026, marking a significant reversal from the 22 billion won profit recorded in the same quarter of 2025. The exchange's quarterly revenue fell 35.8% to 86.3 billion won compared to approximately 134.4 billion won in the previous year. Operating profit declined 44% over the same period to 12.1 billion won, down from roughly 21.6 billion won.
As reported by local sources, transaction commissions accounted for almost all of Bithumb's operating revenue during the quarter, with fee income reaching approximately 86.28 billion won. Revenue from other activities, including lending and market information services, amounted to only about 3.8 million won. The exchange's heavy dependence on transaction fees leaves earnings closely tied to customer activity, with fewer completed trades reducing commission collections even when Bithumb retains a large share of South Korea's crypto market.
According to a crypto.news report, the combined trading volume across Upbit, Bithumb, Coinone, Korbit, and Gopax declined 54.6% to $366.58 billion during the first half of 2026 compared to the same period in 2025. During July 1–27, Bithumb handled approximately 4.71 trillion won in trades, with its market share falling from 30.7% to 27.1% while Upbit's share increased from 62.3% to 67.4%.
Across the first six months of 2026, Bithumb recorded a net loss of 108.7 billion won, reversing a 55 billion won profit from the corresponding period last year. First-half revenue fell 48.7% to 168.8 billion won, while operating profit declined 83.4% to 14.9 billion won. The company faces regulatory challenges including a 210 million won penalty imposed by South Korea's Personal Information Protection Commission in June for inadequate overseas data transfer procedures, and a 36.8 billion won fine with six-month suspension for anti-money laundering violations.
According to reports, Bithumb is preparing for a public listing targeted for 2028 under a three-stage IPO roadmap that includes internal control improvements and Korean International Financial Reporting Standards preparation during 2026. The company has signed an advisory agreement with Samjong KPMG through the end of 2027, with plans to submit a preliminary listing application and complete required audits in 2027. Additionally, Kiwoom Securities has held acquisition talks for newly issued Bithumb shares, though negotiations remain underway regarding investment size and ownership percentage.
