BitGo has completed its acquisition of NYDIG’s institutional trading business in a cash-and-stock transaction valued at about $42.5 million. The deal adds derivatives, structured products, and capital markets capabilities to BitGo, while about 30 NYDIG employees and related institutional client relationships will move to the company.
The transaction was completed in two steps, including $7 million in cash and roughly $35.5 million in BitGo stock. The agreement also includes a potential additional $10 million cash payment tied to revenue milestones and up to $5 million in further consideration. Following the sale, NYDIG will focus on its power, Bitcoin mining, and HPC data center businesses.
BitGo Closes $42.5 Million Deal for NYDIG Institutional Trading Unit
Disclaimer: The content provided on Phemex News is for informational purposes only. We do not guarantee the quality, accuracy, or completeness of the information sourced from third-party articles. The content on this page does not constitute financial or investment advice. We strongly encourage you to conduct you own research and consult with a qualified financial advisor before making any investment decisions.