BitGo Sells Trading Business to NYDIG Amid Focus Shift

NYDIG, a digital-asset custody and trading infrastructure provider, has acquired BitGo's institutional trading business for approximately $42.5 million upfront consideration. The deal includes an institutional team, client relationships, and financial products around NYDIG's custody and settlement platform.

The transaction excludes NYDIG's Bitcoin mining and custody businesses. The newly acquired unit must reach revenue hurdles of $45 million and $70 million through February 2028 to trigger additional payments of up to $15 million in cash plus BitGo shares.

BitGo, a leading provider of institutional trading and custody services, generated $4.197517 billion of revenue from its Digital Asset Sales line in the second quarter, but with only $7.082 million profit, or 16.9 basis points of that revenue line.

The acquisition strengthens NYDIG's focus on power and computing infrastructure, with a claimed footprint exceeding 3 GW, and sharpens an existing infrastructure priority rather than creating it from scratch.