Bullish (BLSH) Share-based Compensation (2024 - 2026)
Bullish's (BLSH) quarterly Share-based Compensation came in at $5.0 million in Q2 2026, up 52.45% year-over-year from $3.3 million in Q2 2025, and down 67.41% quarter-over-quarter from $15.4 million in Q1 2026.
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Analysis
Bullish (BLSH) Share-based Compensation (2024 - 2026) Analysis & Trends
Bullish has disclosed Share-based Compensation across 3 years of filings, most recently posting $5.0 million for Q2 2026.
- In Q2 2026, Share-based Compensation rose 52.45% year-over-year to $5.0 million; the TTM figure through Jun 2026 stood at $27.6 million (up 46.8% YoY), while the FY2025 annual figure was $16.2 million, down 28.27% from the prior year.
- Share-based Compensation came in at $5.0 million for Q2 2026 at Bullish, down from $15.4 million in the prior quarter.
- In the past five years, Share-based Compensation ranged from a high of $15.4 million in Q1 2026 to a low of $3.1 million in Q3 2025.
- Average Share-based Compensation over 3 years is $6.2 million, with a median of $5.0 million recorded in 2026.
- Year-over-year, Share-based Compensation sank 62.92% in 2025 and soared 200.76% in 2026.
- Over 3 years, Share-based Compensation stood at $4.7 million in 2024, then declined by 13.88% to $4.0 million in 2025, then increased by 24.31% to $5.0 million in 2026.
- Per Business Quant data, the three most recent Share-based Compensation figures were $5.0 million in Q2 2026, $15.4 million in Q1 2026, and $4.0 million in Q4 2025.
Peer Set
Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | Stock Comp. (Qtr) |
|---|---|---|---|---|---|
| 1 | Bitmine Immersion Technologies | 57.68 Bn | 57.34 Bn | 40.81 Mn | 13.25 Mn |
| 2 | Coinbase Global | 52.26 Bn | 43.47 Bn | 1.16 Bn | 238.34 Mn |
| 3 | PayPal Holdings | 45.26 Bn | 34.01 Bn | - | 275.00 Mn |
| 4 | Block | 44.88 Bn | 38.42 Bn | 3.17 Bn | 259.75 Mn |
| 5 | Iren | 35.80 Bn | 28.23 Bn | 103.89 Mn | - |
| 6 | Corpay | 25.96 Bn | 19.27 Bn | 1.19 Bn | 32.01 Mn |
| 7 | Fiserv | 24.43 Bn | 23.83 Bn | 3.59 Bn | 117.00 Mn |
| 8 | Global Payments | 22.33 Bn | 17.57 Bn | 2.03 Bn | 35.71 Mn |
| 9 | Hut 8 | 12.62 Bn | 6.14 Bn | 48.04 Mn | 51.75 Mn |
| 10 | Bullish | 6.05 Bn | 5.99 Bn | 15.53 Mn | 5.03 Mn |
Historic Data
Download Data
Historic Data
| Date | Value |
|---|---|
| Jun 30, 2026 | 5.03 Mn |
| Mar 31, 2026 | 15.44 Mn |
| Dec 31, 2025 | 4.05 Mn |
| Sep 30, 2025 | 3.13 Mn |
| Jun 30, 2025 | 3.30 Mn |
| Mar 31, 2025 | 5.13 Mn |
| Dec 31, 2024 | 4.70 Mn |
| Sep 30, 2024 | 5.70 Mn |
| Jun 30, 2024 | 8.90 Mn |
API Access
Bullish Share-based Compensation API
Pull this series into your own models, spreadsheets and apps with the Business Quant
Historical Metrics API. The request below matches the chart above — change the
frequency, period or values and it follows. Swap YOUR_API_KEY for your own key.
https://data.businessquant.com/historic?slug=share-based-compensation&ticker=BLSH&period=max&api_key=YOUR_API_KEYimport requests
url = "https://data.businessquant.com/historic"
params = {"slug": "share-based-compensation", "ticker": "BLSH", "period": "max", "api_key": "YOUR_API_KEY"}
data = requests.get(url, params=params).json()const res = await fetch("https://data.businessquant.com/historic?slug=share-based-compensation&ticker=BLSH&period=max&api_key=YOUR_API_KEY");
const data = await res.json();