Gemini shares jump after Q1 revenue gain, $100M Bitcoin buy

Gemini reported first-quarter 2026 revenue of $50.3 million, a 42% year-over-year increase, and disclosed a $100 million strategic investment from Winklevoss Capital Fund paid in Bitcoin at $14 per share. The company announced that Gemini Olympus, LLC received a Derivatives Clearing Organization license from the Commodity Futures Trading Commission on April 30.

Shares of Gemini, which trades on Nasdaq under the ticker GEMI, rose in premarket trading, reaching as high as $6.96 before settling around $6.11, roughly 16% above the prior close of $5.26. The stock has gained nearly 26% over the past month and remains down about 51% over the last six months.

Gemini reported a shift in revenue mix away from traditional exchange trading toward services and interest income. Services revenue and interest income rose 122% to $24.5 million, representing 49% of total revenue, up from 31% a year earlier. Credit card revenue nearly quadrupled to $14.7 million. Traditional exchange revenue fell 27% to $17.2 million as trading volume dropped to $6.3 billion from $13.5 billion in Q1 2025.

Prediction markets, launched in December 2025, generated $0.4 million in revenue in their first full quarter. Since launch the platform processed more than 100 million contracts across more than 20,000 traders.

The DCO license allows Gemini Olympus to clear certain derivatives and settle prediction-market wagers internally rather than relying on an external clearinghouse. The license complements a December designation as a Designated Contract Market and gives the firm the ability to offer cleared futures, options and other cleared instruments.

Tyler Winklevoss, Gemini’s chief executive, wrote that he believes the market has significantly undervalued the company and that the investment will position Gemini for its next phase of growth. Cameron Winklevoss, Gemini’s president, described the DCO approval as “a major milestone in Gemini’s marketplace expansion” and noted the firm now has a “full-stack, end-to-end marketplace for predictions as well as futures, options, and more.”

Founded by Cameron and Tyler Winklevoss, Gemini has pursued regulatory approvals and new product lines to diversify revenue as spot trading volumes have softened across the industry.