BitGo Completes Acquisition of NYDIG's Institutional Trading Business

BitGo has officially completed the purchase of NYDIG's institutional trading business, paying a total of $42.5 million, which includes $7 million in cash and stock, with an additional up to $15 million in earnouts based on performance. Approximately 30 employees from NYDIG are expected to join BitGo as part of the deal. Following the sale, NYDIG will focus on its core areas of mining, energy, and AI infrastructure. This acquisition marks a strategic move for BitGo, transitioning from a custody-focused firm to a comprehensive prime-services provider catering to institutional clients, with expanded capabilities in derivatives, structured products, and trading relationships.