ChainCatcher report: BitGo has announced the completion of its acquisition of NYDIG’s institutional trading business through a two-step merger, with a total consideration of approximately $42.5 million, comprising $7 million in cash and approximately $35.5 million in BitGo stock. Around 30 NYDIG employees have transitioned with the business, and the transaction includes an earnout tied to revenue milestones. The acquired business provides derivatives, structured products, financing, and capital markets solutions to asset managers, hedge funds, enterprises, and family offices. BitGo CEO Mike Belshe stated that institutional clients increasingly seek trusted partners capable of supporting the full lifecycle of digital assets—including custody, trading, financing, and settlement. For NYDIG, the sale enables it to focus on power generation, Bitcoin mining, and high-performance computing data centers, with a development pipeline exceeding 3 gigawatts. BitGo went public on the NYSE this year with a valuation of approximately $2 billion and launched the USDS stablecoin.
BitGo Acquires NYDIG's Institutional Trading Business for $42.5M
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Summary
BitGo has acquired NYDIG’s institutional trading business for $42.5 million, comprising $7 million in cash and $35.5 million in shares. The transaction includes 30 employees and features earnout terms tied to revenue. The business specializes in derivatives, structured products, and capital solutions for institutional clients. Trading volume and activity have surged amid growing demand for full-cycle digital asset services. NYDIG will now focus on Bitcoin mining, power generation, and data centers, with over 3 gigawatts currently in development.
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