Antalpha Platform Holding Co

Antalpha Platform Holding Co reported second-quarter 2026 total revenue of $12.2 million, down 28% year-over-year from $17 million in Q2 2025. Revenue excluding the Cango facility declined 15% year-over-year, reflecting lower average loan balances, while technology financing fees fell 40% to $7.7 million and technology platform fees rose 10% to $4.5 million. The total value of loans facilitated decreased to $1.35 billion as of June 30 from $1.61 billion at the end of Q1, and hash rate financing stood at approximately 30.9 exahash, about 3.1% of the global Bitcoin network hash rate. GAAP operating loss widened to $25.1 million from $0.5 million in the prior year period, and net loss attributed to Antalpha was $12.5 million compared with net income of $0.7 million in Q2 2025. Adjusted EBITDA loss was $27.4 million, including approximately $26.2 million in unrealized losses related to XAUT and XAUE holdings, while Aurelion contributed a $24.4 million operating loss primarily due to a $22.3 million fair value loss as XAUT price declined from $4,667 to $3,996 per unit during the quarter. The company guided Q3 2026 revenue between $10 million and $12 million.