Joint Venture |
6 Months Ended |
|---|---|
Jun. 30, 2026 | |
| Equity Method Investments and Joint Ventures [Abstract] | |
| Joint Venture | Joint Venture On March 4, 2024, the Company entered into a joint venture agreement with a local bank in South Korea and a third-party investor to form BitGo Korea Inc. (“Korea JV”) in the Republic of Korea. This venture aims to further expand BitGo’s global reach. The Korea JV is consolidated under the voting interest entity consolidation model as it does not meet the variable interest entity characteristics, and BitGo controls the board with 3 out of 5 directors, making all board decisions subject to majority approval. Consequently, interests held by two other investors are recognized as Non-Controlling Interests. The total consideration the Company invested is KRW 2,501.7 million ($1.8 million USD), thereby acquiring a majority interest of 53% in the Korea JV. As of June 30, 2026 and December 31, 2025, the carrying amount of the assets was $2.1 million and $2.9 million, respectively, and liabilities of $0.1 million and $0.1 million, respectively, of the condensed consolidated Korea JV. Total earnings attributable to Non-Controlling Interests for the three and six months ended June 30, 2026 and 2025 were immaterial. The Company’s involvement with the Korea JV does not have a significant effect on the Company's financial condition, results of operations or cash flows.
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