BitGo has completed the acquisition of NYDIG’s institutional trading business and related assets, expanding its digital asset markets platform with additional derivatives, structured products, financing and capital markets capabilities.
The transaction also allows NYDIG to concentrate its resources on vertically integrated power generation, bitcoin mining and high-performance computing data center development.
Financial terms of the acquisition were not disclosed.
Approximately 30 NYDIG employees have joined BitGo as part of the transaction, along with NYDIG’s institutional trading client relationships.
The acquired business serves asset managers, hedge funds, corporations, family offices and other sophisticated market participants requiring liquidity, customized trading strategies, financing and risk management solutions.
BitGo plans to integrate those capabilities with its existing custody, settlement, wallet and trading infrastructure.
The company expects the combination to provide institutional customers with a broader set of digital asset services through a single platform spanning custody, trading, financing, settlement and other capital markets activities.
BitGo also expects the acquisition to strengthen client retention and increase the amount of client assets maintained on its platform by expanding the services available around those assets.
The deal adds experienced derivatives and financing professionals to BitGo as institutional participation in digital assets continues to increase.
BitGo provides custody, wallets, staking, trading, financing, stablecoin and settlement services and operates multiple regulated entities.
Its infrastructure includes BitGo Bank & Trust, National Association, which the company describes as the first federally chartered digital asset trust bank owned by a publicly traded company.
BitGo has operated since 2013 and serves thousands of institutional customers and millions of investors globally.
For NYDIG, the divestiture represents a further strategic shift toward energy and compute infrastructure.
NYDIG’s development pipeline exceeds 3 gigawatts, with more than 1 gigawatt of capacity expected to be deliverable during 2027 and 2028.
The company develops and operates high-density infrastructure supporting AI training and inference, high-performance computing, bitcoin mining and other compute-intensive workloads.
NYDIG is an affiliate of Stone Ridge Holdings Group and operates alongside the Stone Ridge Energy business, whose assets are responsible for roughly 3% of U.S. natural gas production.
The company said its experience across energy operations, risk management and financial markets informs how it evaluates long-term tenant commitments and structures financing for large-scale compute projects.
“Institutions increasingly want to work with a trusted partner that can support the full lifecycle of digital assets, from custody and trading to financing and settlement. We believe this transaction will meaningfully scale our trading and infrastructure capabilities and adds an exceptional team with experience serving institutional clients.”
“We are excited to deliver a more integrated experience for clients while creating efficiencies across technology, operations, and compliance.”
Mike Belshe, CEO And Co-Founder Of BitGo
“BitGo has built one of the industry’s most trusted and comprehensive digital asset infrastructure platforms, and we are excited for our institutional trading clients to gain access to that scale and breadth of capability.”
“This transaction allows our team to continue delivering the same innovative solutions, execution quality, and dedication clients have come to expect, now backed by an even deeper set of resources.”
Pete Janney, Head Of Financial Infrastructure At BitGo
“Our team built NYDIG’s institutional trading business into something exceptional: proven execution expertise with derivatives and financing capabilities. That business is complementary to BitGo’s digital asset infrastructure, and we look forward to a seamless transition for our clients and our colleagues.”
“The discipline and intensity that built our trading franchise also drives our HPC data center development business, where we see one of the most significant opportunities ahead.”
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