Nydig
“Can a vertically integrated, NYDFS-regulated bitcoin infrastructure firm become the institutional rails for Bitcoin custody, lending, trading, and energy-backed mining at scale?”
Founded in 2017 as the bitcoin investment and infrastructure arm of Stone Ridge, NYDIG built out institutional-grade regulated custody and execution entities chartered by the New York DFS. The company expanded into embedded bitcoin banking for financial institutions (notably via its partnership with Nymbus), Bitcoin-collateralized lending, and spot/derivatives trading. In 2021 it acquired Bottlepay for Lightning Network payments capability. More recently, NYDIG has pivoted further upstream by integrating power and compute infrastructure with Bitcoin mining, positioning itself as a vertically integrated 'bitcoin and power firm' rather than a pure fintech.