BitGo Buys NYDIG's Trading Arm for $42.5M in Stock and Cash

BitGo, a crypto company that went public on the NYSE at the start of the year, has acquired NYDIG's institutional trading business for $7 million in cash and about $35.5 million in stock. The deal also includes up to $15 million more in cash tied to two revenue milestones.

The purchase brings NYDIG's derivatives, structured products, financing, and capital markets operations to the custody company, along with roughly 30 employees and around 250 institutional client relationships.

According to BitGo's CEO Mike Belshe, institutions increasingly want to work with a trusted partner that can support the full lifecycle of digital assets.

NYDIG will focus on its power generation, Bitcoin mining, and high-performance computing data centers, a development pipeline it puts above 3 gigawatts, with more than 1 gigawatt deliverable in 2027 and 2028.