BitGo has officially acquired NYDIG’s Bitcoin-focused institutional trading business for $7 million in cash and approximately $35.5 million in stock, with up to $15 million more tied to revenue milestones. The acquisition transfers roughly 250 institutional client relationships and about 30 employees to BitGo, while NYDIG will now focus on power generation, Bitcoin mining, and high-performance computing data centers. BitGo, listed on the NYSE since early this year with a market value below $1 billion, also confirmed it runs infrastructure for USD1, the stablecoin backed by the Trump family via World Liberty Financial.
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