Exodus Sells 1,076 BTC to Fund Payments Acquisitions

Exodus Movement sold 1,076 bitcoin between January and March 2026, generating $73.2 million in proceeds that the company used to fund the May 1 acquisition of Monavate and Baanx, subsidiaries of W3C Corp., and to build liquidity for a shift into payments services.

The company reduced its bitcoin treasury from 1,704 BTC on Dec. 31, 2025 to 628 BTC on March 31, 2026, a decline of about 63 percent. Exodus reported the results in its unaudited Q1 2026 financial report and 10-Q filing.

Cash and stablecoin balances rose to $72.9 million at quarter-end from $4.9 million at the end of 2025. Exodus entered the second quarter debt-free with stockholders’ equity of $218.7 million, according to its filings.

The May 1 closing brought in card and payments infrastructure through Monavate and Baanx. Exodus said the assets are intended to support payments offerings such as Exodus Pay and the XO Cash stablecoin and to widen the company’s product set beyond its wallet and exchange aggregation services.

Financial results for Q1 showed lower revenue and a wider net loss. Total revenue was $22.7 million, down 36.8 percent from $36.0 million in Q1 2025. The company recorded a net loss of $32.1 million for the quarter, compared with a $12.9 million net loss a year earlier. Exodus reported a $36.4 million net loss on digital assets in the quarter, which included realized losses from sales and unrealized impairments tied to market volatility.

Trading and user activity moderated. Processed exchange volume was $1.18 billion for the quarter, about 26 percent lower than in the fourth quarter of 2025. Monthly active users held near 1.5 million, while quarterly funded users declined about 18 percent to roughly 1.4 million.

Exodus increased its Solana holdings during the quarter, adding 5,068 SOL and bringing the treasury to 17,541 SOL, valued at about $1.5 million at quarter-end.

Exodus’s stock moved after the results and the acquisitions. Shares fell 9.6 percent on May 12 and were down 14.7 percent over the prior five trading sessions. The stock gained about 10 percent over the past month but remained more than 53 percent below its year-to-date level.

The company plans to integrate the acquired payments platforms and use the enlarged cash and stablecoin balances to support the transition from an exchange-focused business to revenue from payments services and card infrastructure.