Company
NYDIG is a bitcoin-focused financial firm offering institutional custody, trading, lending, and derivatives services for digital assets.
BitGo CEO Mike Belshe wants trading, lending and settlement built on its custody business to produce 100% of the NYSE-listed firm's revenue. The goal would make BitGo a lender and settlement agent to the funds whose crypto it already holds.
Reality
Kazakhstan's July decree lets oil producers supply flared-gas power to crypto miners, as Crusoe did before assembling 10 gigawatts of AI projects. Crusoe sold those flare operations to NYDIG, so AI demand in Kazakhstan more likely lands on new grid capacity.
Reality
Thirty people and a book of institutional trading relationships changed hands on terms nobody disclosed, which leaves the $4.329bn of quarterly revenue BitGo is now trying to put a spread on as the number to read.
Perspective Coverage
9 publishersReality
The Series F closed at a $30.9bn post-money valuation on one operating gigawatt and $140bn of contracted value spread across six. Turning the other five gigawatts into cash is what the new money bought.
Reality
CoinShares marks stabilised data centre capacity at $27m a megawatt and energised mining capacity at $3m, and the conversion cost in between explains why Core Scientific, Keel, Cipher and IREN are walking away from hashrate.
Reality
Nine days of purchases paid for by a security that disburses cash every business day is a demand read on the preferred rather than on bitcoin. The coins Strive bought last week at $79,431 are marked at $77,100.
Reality
Custody+ adds digital asset custody later this year, starting with bitcoin, inside the framework Citi uses for traditional securities. The bank says it will hold native tokens rather than route them out.
Perspective Coverage
3 publishersReality