BitGo Expands Institutional Crypto Services with NYDIG Trading Acquisition

BitGo has expanded its services for institutional crypto clients by acquiring NYDIG's institutional trading business. The transaction includes about 30 employees who joined BitGo and provides derivatives, structured products, financing, and capital markets services to clients such as asset managers and hedge funds.

The acquisition will 'meaningfully scale' BitGo's trading and infrastructure capabilities, allowing it to serve a broader range of institutional clients, according to BitGo CEO Mike Belshe. The acquired business will continue delivering the same innovative solutions, execution quality, and dedication that clients have come to expect from NYDIG.

NYDIG's development pipeline exceeds 3 gigawatts, with more than 1 GW of capacity expected to be delivered in 2027 and 2028. This transaction allows the company to focus its resources on power generation, Bitcoin mining, and high-performance computing data centers.

The financial terms of the deal were not disclosed. BitGo has reported a $19M Q2 loss despite an 80% revenue surge to $4.3B.