K33 passed SEK 1 billion in trading volume in record quarter

K33 delivered its best quarter since its inception, with a trading volume in the third quarter of over SEK 1 billion and revenues of SEK 933 million. “Q3 was a milestone quarter,” says Torbjørn Bull Jenssen, CEO of K33.

November 20, 2025
Crypto exchange

Revenues of SEK 933 million are an increase of 130% from the previous quarter and 270% compared to Q3 2024. K33 also delivered positive EBITDA and positive net profit when adjusted for unrealized loss on the company's Bitcoin holdings.

A Milestone Quarter

“Q3 was a milestone quarter for K33. We passed SEK 1 billion in trading volume, revenues more than doubled from the previous quarter, and we delivered a positive underlying result. This achievement shows that our model works. The next phase is about scaling what we have built and turning our strong position into lasting profitability. The opportunities ahead are great, and K33 is ready to lead,” says Torbjørn Bull Jenssen.

Highlights

  • Revenues more than doubled and grew by 270% year-over-year
    • K33 delivered SEK 933 million in revenues in Q3 2025, up 270% year-over-year. Compared to Q2 2025, revenues increased by 130% and marked the best quarter in the company's history.
  • Positive EBITDA and underlying earnings
    • K33 delivered positive EBITDA of KSEK 2,075 after a strong quarter driven by high trading activity. The underlying net profit from operations was also positive, amounting to 507 KSEK when adjusted for unrealized loss on the company's Bitcoin holdings.
  • Increased by 15 BTC on the balance
    • K33 now has 141 BTC on its balance sheet, strengthening its financial position, improving product capability and increasing margins.
  • Smart limit order launched
    • New grommet feature introduced that provides precision and safety.
  • MICA application submitted
    • K33 submitted its MICA licence application to the Financial Supervisory Authority in August. Following the NFSA's request to extend the application period, final approval may take longer than expected. MiCA remains a key milestone that will expand K33's geographic reach and enable new partnerships with traditional financial institutions.
  • Partner Agreement with Curriculum Asset Management (Subsequent Event)
    • K33 has partnered with Norwegian wealth manager Pensum to explore professional and secure exposure to Bitcoin and other digital assets for Pensum's clients.

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