BitGo Completes Acquisition of NYDIG Institutional Trading Business

BitGo said it has completed its acquisition of NYDIG's institutional trading business in a two-step merger valued at about $42.5 million, including $7 million in cash and about $35.5 million in BitGo stock. According to ChainCatcher, roughly 30 NYDIG employees will join BitGo as part of the deal, which also includes an earnout tied to revenue milestones. The acquired business provides derivatives, structured products, financing, and capital markets solutions to asset managers, hedge funds, corporations, and family offices. BitGo CEO Mike Belshe said institutional clients increasingly want trusted partners that can support the full digital asset lifecycle, including custody, trading, financing, and settlement. NYDIG said the sale allows it to focus on power generation, Bitcoin mining, and high-performance computing data center operations. The company said its development pipeline exceeds 3 gigawatts. BitGo went public on the New York Stock Exchange this year at a valuation of about $2 billion and has launched the USDS stablecoin.