BitGo has completed the acquisition of NYDIG's institutional trading business and related assets, a deal that expands its derivatives, financing and capital-markets capabilities while NYDIG concentrates resources on Bitcoin mining and high-performance computing infrastructure.

The transaction brings NYDIG's institutional client trading relationships and roughly 30 employees into BitGo. Financial terms were not disclosed.

NYDIG's trading operation serves asset managers, hedge funds, corporations, family offices and other institutional clients through derivatives, structured products, financing and customized trading strategies.

BitGo Adds Trading and Financing to Its Institutional Stack

BitGo, founded in 2013 and long known primarily as a custodian for institutions, plans to integrate the acquired business with its regulated custody, settlement, wallet and trading infrastructure, extending the range of services institutions can access through a single platform.

The deal builds on an already accelerating institutional push. In July, BitGo Prime launched a Global Liquidity Layer that connects clients with exchanges, market makers, OTC counterparties and other liquidity sources while combining financing, collateral management and settlement. In August, BitGo followed with Link, which connects institutional exchange accounts directly to its platform. The company has also widened institutional access to onchain markets, including Morpho vault strategies and Aave lending through its custody infrastructure.

By acquiring NYDIG's trading desk, BitGo gains a team already established in institutional derivatives and financing rather than having to build those capabilities entirely in-house. The purchase also deepens BitGo's overlap with institutional-focused platforms such as Coinbase Prime, FalconX and Galaxy, which already combine execution, financing and custody for professional clients.

The acquisition also lands as traditional financial firms broaden direct access to crypto markets. Charles Schwab is preparing to add Solana, Avalanche and Chainlink after launching direct Bitcoin and Ethereum trading in May, extending its crypto platform beyond the two largest assets.

NYDIG Narrows Its Focus to Bitcoin Mining and Data Centers

NYDIG, an affiliate of asset manager Stone Ridge that built its name in Bitcoin custody and institutional bitcoin funds, will redirect resources toward vertically integrated power generation, Bitcoin mining and high-performance computing data centers. The company has a development pipeline exceeding 3 gigawatts, with more than 1 GW expected to be deliverable during 2027 and 2028.

Its infrastructure strategy combines power generation with high-density computing facilities designed for Bitcoin mining, AI training, inference and other compute-intensive workloads.

The pivot is not a complete departure from NYDIG's recent operations. The firm had already built mining exposure through financing arrangements with North American miners, including a deal during Core Scientific's restructuring that moved mining equipment to NYDIG while the miner repaid NYDIG-linked debt.

NYDIG has remained active in Bitcoin infrastructure while building out that transition. Riot Platforms, for example, moved another 500 BTC to NYDIG custody in July as the miner continued using NYDIG-linked infrastructure during its 2026 treasury activity.

The shift also reflects the broader movement among Bitcoin miners and infrastructure companies toward data-center capacity, as mining economics remain highly sensitive to Bitcoin price, network difficulty and energy costs.

BitGo Expands After Its 2026 Public Listing

BitGo listed on the New York Stock Exchange under the ticker BTGO earlier this year after raising about $213 million in its initial public offering. The listing followed an earlier chapter in which Galaxy Digital agreed to acquire BitGo for $1.2 billion before terminating that deal in 2022.

Its institutional business has continued expanding since the listing. In the second quarter, clients on platform increased 26% year over year, normalized assets on platform rose 31%, and normalized assets staked climbed 36%.

The company has also used its federal banking infrastructure to grow beyond custody. BitGo Bank & Trust operates under an OCC national trust bank charter, supporting custody, settlement and collateral services across a growing institutional product stack.

NYDIG's derivatives, structured products and financing capabilities now move into that platform, while NYDIG retains its mining and HPC business.