BitGo buys NYDIG agency transactions for about $42.5 million

Bitgo announced the completion of the acquisition of NYDIG institutional transactions, which were completed in a two-step merger with a total value of approximately $42.5 million, including $7 million in cash and approximately $35.5 million in BitGo equities. Some 30 NYDIG employees moved with business and the transaction also contained an Earnout clause linked to the revenue milestone. The business provides derivatives, structured products, financing and capital market solutions for asset management companies, hedge funds, businesses and family offices. Bitgo CEO Mike Belshe indicated that institutional clients were increasingly looking to work with credible partners who could support a full life cycle of digital assets, covering hosting, transactions, financing and settlement. For NYDIG, the sale allowed it to focus on power generation, bitcoin mining and high performance computing data centre operations, which it claimed was developing more than 3 Giva. Bitgo was listed at New York House this year, valued at about $2 billion, and introduced the USDS stabilization currency。