BitGo acquired NYDIG’s institutional trading unit for approximately $42.5 million, consisting of $7 million in cash and 5.9 million shares. The deal includes earn-outs tied to trailing-12-month revenue hurdles of $45 million and $70 million by February 2028, with approximately 30 employees and institutional client relationships transferred. NYDIG is redirecting focus toward a power-and-compute footprint exceeding 3 gigawatts, with over 1 gigawatt deliverable in 2027-2028, as Bitcoin mining and custody were explicitly excluded from the transaction. BitGo’s existing gross spread on digital asset sales stands at just 16.9 basis points, highlighting the thin margin dynamics in institutional crypto trading. The deal leaves NYDIG’s project returns and the acquired unit’s profitability undisclosed pending future filings.
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