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Bitcoin Broker NYDIG Acquires Firm That Finances Mining Farms
The Stone Ridge spin-off is adding Arctos Capital to the mix.
NYDIG has bought a commercial lender to extend its reach across the institutional bitcoin landscape.
STORY CONTINUES BELOW
- Arctos Capital provides financing solutions to bitcoin miners and other crypto firms, according to a Thursday announcement.
- Earlier this year NYDIG acquired Digital Assets Data, a crypto research and analytics firm.
- "We are thrilled about joining NYDIG to continue building financing solutions and other services that support the growth of the bitcoin mining industry across North America," Arctos Capital Managing Partner Trevor Smyth said in a statement.
- The terms of the deal were not disclosed.
- NYDIG, a bitcoin-focused spin-off of Stone Ridge Asset Management, has raised $300 million since March from big names including Liberty Mutual, New York Life, George Soros, Morgan Stanley and more.
Read more: NYDIG Raises $100M From Insurance Giants in Latest Round
Zack Seward
Zack Seward is CoinDesk’s contributing editor-at-large. Up until July 2022, he served as CoinDesk’s deputy editor-in-chief. Prior to joining CoinDesk in November 2018, he was the editor-in-chief of Technical.ly, a news site focused on local tech communities on the U.S. East Coast. Before that, Seward worked as a reporter covering business and technology for a pair of NPR member stations, WHYY in Philadelphia and WXXI in Rochester, New York. Seward originally hails from San Francisco and went to college at the University of Chicago. He worked at the PBS NewsHour in Washington, D.C., before attending Columbia’s Graduate School of Journalism.
