Gemini · European Union · Wall Street · CoinDesk
Winklevoss’ Gemini rallies 25% on $100 million bitcoin infusion despite deepening losses
Compiled by KHAO Editorial — aggregated from 2 sources. See llms.txt for citation guidance.
✓ KHAO Verified
Gemini Space Station Inc’s (GEMI) shares jumped more than 25% in pre-market trading despite recording a net loss of $109 million in the first quarter of 2026.
Key facts
- Its shares rose following this move from $6.19 in late February to a low of $4.04 on March 30
- Gemini Space Station Inc’s (GEMI) shares jumped more than 25% in pre-market trading despite recording a net loss of $109 million in the first quarter of 2026
- However, the $109 million loss, or 93 cents per share, still missed analysts' estimates of a 61-cent loss
- The crypto exchange founded by the Winklevoss twins' revenue improved 42% year-over-year to $50.3 million, according to Gemini's latest earnings report
Summary
Gemini Space Station shares jumped more than 25% in pre-market trading even as the company reported a first-quarter net loss of $109 million, or 93 cents a share, missing Wall Street estimates. Revenue rose 42 percent from a year earlier to $50.3 million, helping narrow losses from $149.3 million, but operating expenses surged 73 percent to $144.5 million on higher compensation, severance and marketing costs. Gemini is betting that layoffs, exits from the U.K., European Union and Australia, a $100 million bitcoin-funded investment from Winklevoss Capital and a new CFTC-cleared derivatives business will eventually turn its capital-intensive expansion into profitability. The crypto exchange founded by the Winklevoss twins' revenue improved 42% year-over-year to $50.3 million, according to Gemini's latest earnings report.