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BitGo shifts NYDIG institutional trading deal toward power and HPC data centers

The deal values about $42.5 million upfront, with additional earn-outs tied to $45 million and $70 million trailing-12-month revenue targets through February 2028.

Reported · Written up by our desk · Market Structure

BitGo is transferring its institutional trading business from a deal with NYDIG, while NYDIG plans to focus resources on power, Bitcoin mining, and high-performance-computing data center infrastructure, according to CryptoSlate.

CryptoSlate reports the closing terms disclose roughly $42.5 million of consideration upfront, made up of $7 million in cash subject to holdback and adjustments plus 5,933,577 BitGo shares valued at a $5.9829 reference price, before cash adjustments.

The merger agreement defines the acquired business as spot and derivatives trading, virtual-currency asset management, borrowing and lending, and loan servicing, and it explicitly excludes NYDIG’s Bitcoin mining and custody businesses, keeping the power-and-compute footprint outside BitGo’s purchase.

CryptoSlate adds that about 30 NYDIG employees and institutional client trading relationships are moving to BitGo, with a first earn-out of $10 million in cash and a second earn-out of $5 million in cash plus 835,715 BitGo shares. Both earn-outs are tied to trailing-12-month revenue hurdles of $45 million and $70 million through February 2028, while specific expense and margin details are not disclosed.

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