Norwegian digital asset platform K33 secured an unconditional Markets in Crypto-Assets (MICA) license from Norway’s Financial Supervisory Authority on June 16, 2026, positioning it among roughly 200 to 250 licensed providers across Europe out of approximately 2,500 applicants.
The authorization enables K33 to expand operations across Sweden, Denmark, Finland, and Germany through passporting procedures. The company’s stock traded at $0.0255 on August 27, down 8.93% from the prior session, with a 52-week range of $0.0185 to $0.0535.
K33 reported Q2 2026 revenue of 192.9 million Swedish kronor (MSEK), a 74% sequential decline from Q1’s 739.8 MSEK, reflecting broader market weakness. Global spot trading volumes contracted 27.87% in Q2, following a 15.24% decline in Q1 and contrasting with a 31.63% surge in Q4 2025. Bitcoin closed the quarter at $58,524, down 14.2% from Q1 levels.
Adjusted EBITDA turned negative at 4.6 MSEK in Q2, compared with a positive 0.2 MSEK in Q2 2025 and a negative 3.7 MSEK in Q1 2026. Approximately 14 MSEK of the quarterly loss stemmed from unrealized Bitcoin valuation effects. Operating expenses totaled 199.4 MSEK, down from 400.6 MSEK in the prior year. Total assets decreased to 100.8 MSEK from 114.1 MSEK at the end of Q1, while equity fell to 84.1 MSEK from 102.7 MSEK.
H1 2026 revenue rose 10% year-over-year to 932.8 MSEK, though the company maintained a 12-month rolling trading volume above 2 billion Swedish kronor through July 2026. Gross profit margin stood at 0.79%, and K33’s financial health score was rated 2.16 out of 5, classified as "FAIR."
K33’s effective Bitcoin exposure was approximately 167.5 BTC at quarter-end. Post-quarter, a K33-facilitated option provided Sixty Six Capital with exposure to up to 200 BTC, giving K33 roughly 92 BTC of potential look-through exposure.
For full-year 2026, K33 projects revenue of approximately 406 MSEK, with FY2027 revenue forecast at 629 MSEK and earnings per share expected to reach break-even in FY2027.
