BitGo Expands Institutional Platform with Acquisition of NYDIG's Trading Business

BitGo Holdings, Inc. (NYSE: BTGO), a digital asset infrastructure company, announced today that it has entered into a definitive agreement and completed the acquisition of the institutional trading business and related assets of NYDIG. The transaction significantly expands BitGo's institutional service offering while enabling NYDIG to concentrate its resources on its vertically integrated power generation, bitcoin mining, and high-performance computing (HPC) data center development business.

The acquisition is expected to enhance BitGo's institutional markets platform by strengthening financing capabilities and derivatives offerings, complementing the company's existing regulated custody, settlement, and wallet infrastructure. With approximately 30 NYDIG employees joining BitGo, along with NYDIG's institutional client trading relationships, the deal positions BitGo as a more comprehensive digital asset infrastructure provider. Institutions can now access a broader range of trading and capital markets services through an integrated platform that combines custody, trading, financing, settlement, and capital market services within a single regulated framework.

"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," said Mike Belshe, CEO and Co-founder of BitGo. "We believe this transaction will meaningfully scale our trading and infrastructure capabilities and add an exceptional team with experience serving institutional clients. It is also expected to enable us to serve a broader base of sophisticated clients that we believe will benefit from BitGo's comprehensive infrastructure offerings. We are excited to deliver a more integrated experience for clients while creating efficiencies across technology, operations, and compliance.

NYDIG's institutional trading business provides derivatives, structured products, financing, and capital markets solutions to a sophisticated client base that includes asset managers, hedge funds, corporates, family offices, and other market participants demanding liquidity, tailored risk management, and customized trading strategies. The acquisition brings this experienced team and client franchise to BitGo, expanding its institutional markets platform and strengthening its ability to serve sophisticated clients globally.

The expanded product offering is expected to bolster and enhance the stickiness of client assets on the platform (AOP), a key metric for digital asset infrastructure providers. By offering a more comprehensive suite of services, BitGo aims to deepen client relationships and increase the volume of assets entrusted to its platform.

"We believe the acquisition and expanded product offering will enhance the stickiness of client assets on our platform," said Pete Janney, Head of Financial Infrastructure at BitGo. "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. We look forward to a smooth transition and to the opportunities this creates for our clients."

For NYDIG, the divestiture allows the company to focus on its core growth area: vertically integrated power and compute infrastructure. The company owns generation assets and grid positions and develops and operates high-density facilities supporting AI training and inference, HPC, bitcoin mining, and other compute-intensive workloads. NYDIG's development pipeline now exceeds 3 GW, with more than 1 GW of capacity deliverable in 2027 and 2028.

"Our team built NYDIG's institutional trading business into something exceptional: proven execution expertise with derivatives and financing capabilities," said Tejas Shah, CEO of NYDIG. "That business is complementary to BitGo's digital asset infrastructure, and we look forward to a seamless transition for our clients and our colleagues, some of the most talented people in this market. The discipline and intensity that built our trading franchise also drive our HPC data center development business, where we see one of the most significant opportunities ahead."

As an affiliate of Stone Ridge Holdings Group, a diversified financial services firm, NYDIG benefits from operating alongside the Stone Ridge Energy franchise, which owns and operates assets responsible for roughly 3% of U.S. natural gas production. That foundation in energy operations, risk management, and financial markets informs how the company underwrites long-term tenant commitments and structures financings required to execute large-scale compute infrastructure projects.

BitGo, founded in 2013, maintains a global presence with multiple regulated entities, including BitGo Bank & Trust, a National Association, the first federally chartered digital asset trust bank owned by a publicly traded company. The company serves thousands of institutions, including many of the industry's top brands, financial institutions, exchanges, and platforms, as well as millions of investors worldwide. The acquisition of NYDIG's trading business marks another step in BitGo's evolution toward becoming the industry's most comprehensive digital asset infrastructure platform, delivering custody, wallets, staking, trading, financing, stablecoins, and settlement services from regulated cold storage.

As the digital asset industry continues to mature, institutional demand for integrated infrastructure solutions is expected to grow. BitGo's acquisition positions the company to capture a larger share of this expanding market, while NYDIG's pivot toward HPC data center development reflects the convergence of digital assets, artificial intelligence, and energy infrastructure, three of the most dynamic sectors shaping the global economy.