BitGo closes $42.5M purchase of NYDIG's trading business
- —Deal value is $42.5 million: $7 million in cash and about $35.5 million in BitGo stock
- —An earnout could add up to $15 million if revenue targets are met
- —About 30 NYDIG employees moved to BitGo
- —NYDIG is refocusing on mining and HPC data centers with a pipeline of more than 3 GW
Why it matters: Consolidating custody, trading and financing under one roof intensifies the battle for institutional clients.
Source: Crypto Briefing