BitGo acquires NYDIG institutional trading business

BitGo has completed the acquisition of NYDIG’s institutional trading business, a strategic move to expand its digital asset platform into a full-service prime brokerage. The deal includes approximately 30 NYDIG employees and roughly 250 institutional client relationships, including asset managers, hedge funds, and family offices.

While the total purchase price was not officially disclosed, regulatory filings indicate a deal structure valued at up to $57.5 million. This includes a base consideration of approximately $42.5 million—comprising $7 million in cash and $35.5 million in BitGo stock—plus potential earnouts of up to $15 million tied to revenue milestones.

Through this acquisition, BitGo adds derivatives, structured products, financing, and capital markets services to its existing custody, settlement, and wallet infrastructure. BitGo CEO Mike Belshe stated that institutions are increasingly seeking a single partner to support the entire lifecycle of digital assets.

Following the sale, NYDIG will pivot its focus toward vertically integrated infrastructure, specifically power generation, Bitcoin mining, and high-performance computing (HPC) data center development. NYDIG reports a development pipeline exceeding 3GW of power capacity.