BitGo Buys NYDIG's Trading Division for $42.5M

BitGo has acquired NYDIG's institutional trading division in a $42.5 million deal, marking one of the largest transactions in the crypto space this year.

The acquisition brings derivatives trading, structured products, financing solutions, and capital markets capabilities to BitGo's service portfolio. Approximately 30 professionals from NYDIG's trading team have transitioned to BitGo.

'This acquisition will significantly expand our trading operations and infrastructure capabilities,' said Mike Belshe, CEO of BitGo. 'It positions us to accommodate a wider spectrum of institutional market participants.'

NYDIG plans to focus on Bitcoin mining operations, power generation infrastructure, and high-performance computing facilities after the divestiture.