NYDIG raises $720m for Institutional Bitcoin Fund as BTC balance rises 100% YoY in Q3

Sarah Wolter

October 4, 2022

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Sarah Wolter

nydig
crypto

In a press release this week, the company announced that NYDIG's Bitcoin holdings hit their all-time high during the third quarter of 2022. This rise marks a 100% YoY growth in the BTC balances. The company's revenue also increased by 130% through the second quarter, with further growth expected by the close of the book in Q3.

In the same press release, NYDIG also iterated on its plans going forward, stating the focus will be on, "...accelerating NYDIG's investment in its industry-leading Mining Solutions franchise serving the largest North American miners and in its platform technology business, helping banks and non-bank enterprises utilize the Lightning Network for next-generation wallets and global payments."

https://www.fxstreet.com/cryptocurrencies/news/nydig-raises-720-million-for-institutional-bitcoin-fund-as-btc-balance-rises-100-yoy-in-q3-202210040034