BitGo Buys NYDIG's Trading Business for $42.5M, Expands Institutional Crypto Services

BitGo has completed its acquisition of NYDIG's institutional trading business for $42.5 million in cash and stock, plus an additional $15 million tied to revenue milestones. The deal brings derivatives, structured products, financing, and capital markets services under the BitGo umbrella.

The transaction includes around 30 employees from NYDIG's trading division, who will join BitGo as part of the deal. BitGo CEO Mike Belshe stated that the acquisition will 'meaningfully scale' the company's trading and infrastructure capabilities.

NYDIG will use the sale to focus on Bitcoin mining, power generation, and high-performance computing data centers. The acquired business served asset managers, hedge funds, and corporations, with client relationships transferring to BitGo as part of the deal.