BitGo Acquires NYDIG Trading Desk for $42.5M as Broker Pivots to 3 GW Power Play

CoinGecko data shows bitGo is paying roughly $42.5 million upfront for NYDIG's institutional trading capabilities, absorbing the prime brokerage that once served as Wall Street's primary on-ramp for Bitcoin allocation.

The transaction, confirmed by both parties on Friday, transfers NYDIG's execution engine, custody integrations, and a client roster that includes several of the largest registered investment advisors in the United States.

NYDIG, meanwhile, is redirecting its balance sheet toward a claimed 3-plus-gigawatt power-and-compute footprint spanning Bitcoin mining, high-performance computing, and AI inference workloads. The firm has not released audited capacity figures, signed power-purchase agreements, or a timeline for energizing the first megawatt. Profitability on either side of the trade remains unproven.

per CoinGecko, Bitcoin traded at $79,184 on CoinGecko at 14:00 UTC Aug 30, up 1.5% in 24 hours and 2.1% on the week. The 7-day close series shows a tight range between $76,870 and $80,333, with no breakout tied to the announcement.

Figures from the desk show | BTC dominance | 59.5% | CoinGecko |

The pivot sentence: On Aug 30, NYDIG formally exited the prime brokerage business it built over four years, selling the revenue-generating trading desk to fund a capital-intensive energy play with no disclosed contracted power or customer commitments.

CoinGecko data shows nYDIG's institutional desk handled an estimated $2-3 billion in monthly notional volume across spot, derivatives, and structured products for RIAs, family offices, and corporate treasurers. BitGo gains immediate access to that flow, plus the regulatory licenses and custody partnerships NYDIG negotiated with state trust companies and the OCC.

BitGo CEO Mike Belshe stated the acquisition accelerates the firm's push into regulated wealth-management channels.

For NYDIG, the 3 GW ambition implies roughly 9-10 exahashes of Bitcoin mining capacity at current efficiency, or an equivalent AI compute cluster requiring 300-400 megawatts per 100,000 H100-equivalent GPUs. The firm has not disclosed whether the gigawatt figure represents secured interconnection agreements, optioned land, or a development target.

No power-purchase agreements, turbine orders, or site permits have been made public.

The consolidation mirrors Galaxy Digital's 2024 restructuring, which separated its trading desk from its mining and venture arms. Institutional Bitcoin prime brokerage is proving to be a thin-margin business: custody fees compress toward basis points, execution spreads narrow as more venues offer RFQ, and balance-sheet risk from counterparty concentration limits leverage.

What to watch next: BitGo's integration timeline for NYDIG's OCC trust charter and state trust licenses; NYDIG's first filed interconnection agreement or power-purchase contract; and whether either firm discloses audited revenue or EBITDA for the traded assets within the next two quarters.