BitGo Bolsters Institutional Platform with NYDIG Acquisition

BitGo has acquired NYDIG's institutional trading business and related assets in a move that expands its regulated platform for professional investors. The deal, announced on August 27, brings about 30 NYDIG employees and their client relationships to BitGo.

The acquisition adds new capabilities in derivatives, structured products, financing, and capital markets services to BitGo's existing custody and trading operations. CEO Mike Belshe said institutions increasingly want a single partner that can support digital assets from custody and trading through financing and settlement.

NYDIG will now focus on power generation, Bitcoin mining, and high-performance computing data centers. The company has directed more resources toward these areas in recent years, including an earlier deal to acquire Crusoe Energy's Bitcoin mining operations.