BitGo, a NYSE-listed digital asset infrastructure firm offering custody, trading, staking, financing, and settlement services from regulated cold storage, has entered a definitive agreement and completed a two-step merger to acquire the institutional trading business and related assets of NYDIG. The deal is valued at about $42.5 million—$7 million in cash and roughly $35.5 million in BitGo stock—with additional earnouts of up to $15 million in cash plus shares tied to revenue milestones, and brings around 30 NYDIG employees and roughly 250 institutional client relationships to BitGo. The acquired unit provides derivatives, structured products, financing, and capital markets solutions to asset managers, hedge funds, corporates, and family offices; the main objective is to fold those capabilities into BitGo’s existing custody, settlement, and wallet infrastructure so institutions can access the “full lifecycle of digital assets” under one regulated platform, positioning BitGo for a rebound in crypto trading activity after a prolonged slump. For its part, NYDIG will use the sale to concentrate on its vertically integrated power generation, bitcoin mining, and high-performance computing data center business, which has a development pipeline exceeding 3 gigawatts. Key players include BitGo CEO and co-founder Mike Belshe, who said institutions increasingly want a partner supporting custody, trading, financing, and settlement together, and NYDIG, which is redirecting its focus toward infrastructure and mining as part of the deal.

BitGo Acquires NYDIG’s Institutional Trading Business in $42.5M Deal