BitGo Snatches NYDIG Trading Business in Platform Expansion

BitGo has acquired NYDIG's institutional trading business and related assets in a move that expands its platform for regulated custody, wallets, staking, settlement, and trading services. The deal brings approximately 30 employees and their client relationships into BitGo's fold.

The acquisition adds derivatives, structured products, financing, and capital markets capabilities to BitGo's existing infrastructure. Mike Belshe, BitGo's CEO and co-founder, stated that the deal will scale his company's trading and infrastructure capabilities, enabling it to serve a broader base of sophisticated institutional clients through a single integrated platform.

NYDIG's power generation, Bitcoin mining, and high-performance computing infrastructure business remains intact. The firm has been building out its development pipeline, which now exceeds 3 gigawatts, with over 1 gigawatt deliverable in 2027 and 2028. NYDIG is positioning itself as a vertically integrated power and compute operator serving AI training, inference, and other compute-intensive workloads.

The transaction follows a broader pattern of firms entering the crypto space through mining or trading before converting their scarce power positions into AI infrastructure plays. BitGo's acquisition extends its pattern of building out its institutional markets platform since going public in January under the ticker BTGO.