BitGo buys NYDIG institutional trading business, expands derivatives offering

BitGo completed its acquisition of bitcoin miner NYDIG's institutional trading business and related assets. BitGo expects the acquisition to complement its digital asset infrastructure services. BitGo plans to use the business to expand its institutional markets platform. BitGo plans to expand its derivatives offerings. BitGo plans to enhance its financing capabilities. Around 30 NYDIG employees joined BitGo with their institutional trading relationships. NYDIG's institutional trading business provides derivatives. It provides structured products. It provides financing. It provides capital markets solutions. NYDIG plans to focus its resources on power generation. NYDIG also plans to focus on bitcoin mining. NYDIG plans to develop high-performance computing data centers. BitGo's NYSE stock, BTGO, rose 1.99% to close Thursday at $7.16.