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

BitGo has acquired NYDIG's institutional trading business for $7 million in cash and approximately $35.5 million in stock, with up to $15 million more in cash tied to two revenue milestones.

The deal, completed on Thursday and reported on Friday, brings NYDIG's derivatives, structured products, financing, and capital markets operations to BitGo, along with roughly 30 employees and about 250 institutional client relationships. NYDIG will focus on power generation, Bitcoin mining, and high-performance computing data centers.

BitGo CEO Mike Belshe said institutions want a trusted partner that can support the full lifecycle of digital assets. NYDIG's Tejas Shah stated that the data center business is 'where we see one of the most significant opportunities ahead.'