NYDIG Revenue, Valuation, Funding & Investors
NYDIG is valued at $7B as of December 2021, a 70.0x multiple on its last reported $100M revenue.
Last NYDIG valuation
$7B
Undisclosed stage · Dec 2021
Last NYDIG funding round
$1B
Undisclosed stage · Dec 2021
NYDIG revenue
$100M
Undisclosed stage · Dec 2021
Key investors in NYDIG
Bessemer Venture Partners
FinTech Collective
MassMutual
Morgan Stanley
New York Life Insurance
Ribbit Capital
About NYDIG
NYDIG is a New York-headquartered platform offering Bitcoin financial services to institutions, high-net-worth individuals, and banks. Services encompass asset management, custody, trading execution, derivatives, and lending secured by Bitcoin collateral. Compliant with SOC 2 standards, NYDIG provides OTC desks and research reports on network metrics. Launched in 2017 as a Stone Ridge affiliate, it custodies billions in Bitcoin across global clients.
Founded
2017
HQ
New York City, NYWebsite
Status
Privately held
Customer focus
B2B
Revenue model
Investment management, Services
Revenue
$100M (Dec 2021)
Valuation
$7B (Dec 2021)
NYDIG Valuation
NYDIG is currently valued at $7B, based on its undisclosed-stage round in December 2021.
The $1B round was led by Westcap, with participation from New York Life Insurance, MassMutual, Affirm, Bessemer Venture Partners, FinTech Collective and 3 other investors.
NYDIG's valuation has moved from $7B at its strategic investment round in April 2021 to $7B in December 2021, across 2 priced rounds.
NYDIG valuation by funding round
Revenue multiple| Date | Stage | Valuation | Revenue Multiple |
|---|---|---|---|
| Dec 2021 | Undisclosed stage | $7B | 70.0x |
| Apr 2021 | Strategic investment | $7B | - |
NYDIG Revenue
NYDIG's latest recorded revenue is $100M, as of its undisclosed-stage round in December 2021. At a $7B valuation, that implies a 70.0x revenue multiple.
NYDIG revenue by funding round
| Date | Revenue * | Valuation | Revenue Multiple | Stage |
|---|---|---|---|---|
| Dec 2021 | $100M | $7B | 70.0x | Undisclosed stage |
* Revenue (or ARR) figures are the values recorded alongside each funding round. Typically run-rate revenue at the time of the deal, or a reported LTM (last 12 months) revenue.
NYDIG Funding History
NYDIG has raised a total of $1.4B across 6 funding rounds.
NYDIG's first fundraising round was a $50M Series A in July 2017. The most recent completed round was a $1B undisclosed-stage round in December 2021.
NYDIG funding rounds
| Date | Stage | Investors | Raised | Valuation | Deal Summary |
|---|---|---|---|---|---|
| Dec 2021 | Undisclosed stage | Westcap (lead); New York Life Insurance; MassMutual; Affirm; Bessemer Venture Partners; FinTech Collective; Fiserv; Morgan Stanley; Fidelity Information Services | $1B | $7B | NYDIG, an institutional bitcoin company providing asset management, custody, trading, and financing services, raised $1 billion in a growth equity funding round on December 14, 2021, led by WestCap. The round valued NYDIG at a post-money valuation of $7 billion USD. The capital was intended to enhance NYDIG's institutional-grade bitcoin platform, incorporating Bitcoin protocol upgrades like the Lightning Network, asset tokenization, and smart contracts, while expanding its global team. This was NYDIG's largest round, following prior raises of $200M in March 2021 and $100M in April 2021, bringing total funding to approximately $1.4 billion. NYDIG had enabled bitcoin integrations for entities like the Houston Rockets, a U.S. public pension fund, and partners such as Q2 and MaraPool. |
| Apr 2021 | Strategic investment | Liberty Mutual Insurance; Starr Companies | $100M | $7B | NYDIG, a leading provider of technology and investment solutions for Bitcoin, raised $100 million in growth capital on April 8, 2021, from strategic partners including property and casualty insurers Starr Insurance, Liberty Mutual Insurance, and others, joining existing investors New York Life and MassMutual. This round followed a $200 million financing a month earlier led by Stone Ridge Holdings Group, Morgan Stanley, and others, bringing total capital raised to over $400 million. The funds support NYDIG's expansion of Bitcoin into insurance, including launching a global insurance solutions business. One source reports investors valued NYDIG at $7 billion in connection with these fundings. NYDIG, a subsidiary of Stone Ridge, offers Bitcoin investment and technology solutions to insurers, banks, corporations, institutions, and high-net-worth individuals. The company appointed Mike Sapnar, former CEO of TransRe, as Global Head of Insurance Solutions to drive Bitcoin-powered products in the property and casualty sector, and Matt Carey as U.S. Head for life insurance and annuities. Insurers using NYDIG's platform hold over $1 billion in direct and indirect Bitcoin exposure. Leaders highlighted Bitcoin's potential to address fiat depreciation's impact on insurance premiums and claims in the massive global P&C industry, which pays out over $1 trillion annually. The investments align with NYDIG's strategy to integrate Bitcoin into the $6 trillion global insurance industry, enabling new Bitcoin-denominated products. Prior rounds were led by Bessemer Venture Partners and FinTech Collective. No specific post-money valuation, revenue, ARR, or EBITDA figures for NYDIG around the round date appear in primary announcements, though the insurer Bitcoin exposure metric underscores platform traction. |
| Mar 2021 | Undisclosed stage | FS Credit Opportunities (lead); MassMutual (lead); Morgan Stanley (lead); New York Life Insurance (lead); Soros Fund Management (lead); Big Sky Partners; Bessemer Venture Partners; FinTech Collective; Stone Ridge Asset Management | $200M | - | NYDIG, a New York-based provider of institutional-grade Bitcoin technology and investment solutions including asset management, custody, execution, financing, and derivatives, announced a $200 million growth capital round on March 8, 2021. The round was led by Stone Ridge Holdings Group, Morgan Stanley, New York Life, MassMutual, Soros Fund Management, and FS Investments (also referred to as FS Credit Opportunities), with participation from prior investors Bessemer Venture Partners and FinTech Collective. This brought NYDIG's total funding to over $300 million at the time. The capital supports expansion in Bitcoin-related initiatives spanning investment management, insurance, banking, clean energy, and philanthropy, alongside positioning for mergers and acquisitions. NYDIG highlighted strong institutional traction, noting that life, annuity, and property & casualty insurers held over $1 billion in direct and indirect Bitcoin exposure facilitated exclusively by the firm on its secure, audited, and insured custody platform. Recent moves included helping MassMutual acquire $100 million in Bitcoin in December 2020, where MassMutual also took a $5 million stake. In January 2021, NYDIG acquired analytics firm Digital Assets Data to bolster crypto data, research, and analytics for clients. The company serves insurers, banks, corporations, institutions, and high-net-worth individuals with products meeting high regulatory, audit, and governance standards. Co-founder and CEO Robert Gutmann emphasized the investors as long-term partners signaling Bitcoin's institutional adoption and NYDIG's role as the preferred provider for fiduciary-focused firms. Founder and Executive Chairman Ross Stevens expressed excitement for Bitcoin's advancement through these partnerships. |
| Dec 2020 | Strategic investment | MassMutual (lead) | $5M | - | NYDIG raised $5 million in a corporate round in December 2020 led by MassMutual to further develop its Bitcoin financial services. MassMutual also purchased $100 million in Bitcoin for its general investment account alongside the equity investment. NYDIG provides a comprehensive Bitcoin and financial services platform, including asset management, derivatives, financing, custody, and execution services to institutions. The New York-based firm originated in 2016 and spun off in 2017 as a subsidiary of Stone Ridge, focusing on making Bitcoin accessible through technology and financial solutions for banks, FinTechs, investment managers, and other institutions. |
| Oct 2020 | Undisclosed stage | FinTech Collective (lead); Thirdstream Partners; Bessemer Venture Partners; Ribbit Capital | $50M | - | - |
| Jul 2017 | Series A | Bessemer Venture Partners (lead) | $50M | - | NYDIG emerged from stealth in 2017 with a $50 million growth equity round led by Bessemer Venture Partners, spinning off from Stone Ridge, an alternatives investment firm with over $10 billion in assets under management, to provide institutional-grade digital asset services including prime brokerage, execution, custody, and asset management focused on bitcoin. The company was founded to address the lack of trusted custodians for digital assets in the institutional space, assembling a team of experienced financial services executives led by co-founders Robert Gutmann and Ross Stevens. Bessemer's investment supported NYDIG's development of a best-in-class technology stack and navigation of regulatory complexities to launch novel products for institutions. Prior to that, NYDIG raised $200 million in March 2021 and $100 million shortly after, reflecting rapid scaling amid growing institutional demand for bitcoin solutions. The 2017 round positioned NYDIG as a pioneer in bringing regulatory-compliant services to banks, fintechs, and investment managers. Later traction included partnerships with banks like Alkami, Allied, CSI, FIS, Fiserv, and Jack Henry, as well as fintech products like Upgrade's Bitcoin Rewards Card, but these developments post-date the queried round by years. |
Who has invested in NYDIG?
17 investors have backed NYDIG across its funding rounds, including Bessemer Venture Partners, FinTech Collective, MassMutual, Morgan Stanley, New York Life Insurance and Ribbit Capital.
Lead investors include Westcap, FS Credit Opportunities, MassMutual, Morgan Stanley, New York Life Insurance and 3 other investors.
NYDIG Investors
| Investor | HQ | Rounds | Role | First check |
|---|---|---|---|---|
| San Francisco, CA | 4 | Lead | Jul 2017 | |
| United States | 3 | Lead | Dec 2020 | |
| New York City, NY | 3 | Lead | Oct 2020 | |
| New York City, NY | 2 | Lead | Mar 2021 | |
| New York City, NY | 2 | Lead | Mar 2021 | |
| San Francisco, CA | 1 | Participant | Oct 2020 | |
| Philadelphia, PA | 1 | Lead | Mar 2021 | |
| New York City, NY | 1 | Lead | Mar 2021 | |
| Boston, MA | 1 | Participant | Apr 2021 | |
| New York City, NY | 1 | Participant | Apr 2021 | |
| San Francisco, CA | 1 | Participant | Dec 2021 | |
| San Francisco, CA | 1 | Participant | Mar 2021 | |
| San Francisco, CA | 1 | Participant | Oct 2020 | |
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Benchmark 350K+ Funding Rounds and Disclosed VC Valuation Multiples
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Start Free TrialAcquisitions by NYDIG
NYDIG has acquired 4 companies to date.
Last acquisition by NYDIG was on March 25th 2025. NYDIG acquired Crusoe (bitcoin mining unit) for $250M.
Latest Acquisitions by NYDIG
![](data:image/svg+xml,<svg xmlns="http://www.w3.org/2000/svg" width="20" height="20" viewBox="0 0 20 20"><rect fill="%23e5e7eb" width="20" height="20" rx="4"/></svg>){kind=small} Crusoe (bitcoin mining unit) | ||||
| Description | Crusoe is a bitcoin mining operation that utilizes flared natural gas for energy-efficient computing. Denver-headquartered, the company deploys modular data centers at oil fields to capture waste methane. Its infrastructure supports high-performance ASIC miners, reducing carbon emissions compared to grid-powered alternatives. Crusoe operates facilities across Texas and North Dakota. | Bottlepay is a payments platform leveraging the Bitcoin Lightning Network for instant, low-cost transactions. It enables mobile wallets for sending and receiving sats via phone numbers or usernames, supporting remittances and micropayments. Tyne, England-headquartered and launched in 2018, Bottlepay integrates with e-commerce sites and offers merchant tools for seamless crypto adoption. The platform facilitates cross-border transfers without intermediaries, serving users across Europe and beyond. | - | - |
| HQ Country | |  | | |
| HQ City | Denver, CO | Newcastle | - | - |
| Deal Date | 25 Mar 2025 | 29 Oct 2021 | 22 Apr 2021 | 11 Jan 2021 |
| Valuation | $250M | $300M | undisclosed | undisclosed |
| EV/Revenue | ||||
| EV/EBITDA | ||||
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Investments by NYDIG
NYDIG has invested in 10 companies to date.
Latest investment by NYDIG was on May 18th 2026. NYDIG invested in Rightbrain in their $4M Seed round.
Latest Investments by NYDIG
| Description | Rightbrain is a software provider for B2B agencies, recruiters, and professional services firms. The company embeds AI models from OpenAI, Anthropic, and Google into existing tools such as CRMs and Google Workspace. | Unblock is a climate technology company based in Zug, Switzerland. Established in 2021, it develops software to verify and tokenize carbon credits, partnering with reforestation projects in Latin America and renewable energy providers in Europe. The platform facilitates emissions mitigation for corporations through blockchain-based certificates, supporting compliance with EU ETS regulations and voluntary offsets for clients in aviation and manufacturing sectors. | JAN3 is a Bitcoin development company founded in 2022 and headquartered in Zug, Switzerland. It operates projects like Bitcoin Beach in El Salvador, RST in Japan, and the Sovereign Wealth Fund of El Salvador to promote national Bitcoin adoption. JAN3 builds Lightning Network infrastructure and advises governments on Bitcoin treasury strategies. | Unchained is an Austin-based bitcoin financial services provider offering multisig vaults, a trading desk, bitcoin-backed loans, and bitcoin IRAs. The company emphasizes user control over private keys and provides expert support for setups across experience levels, accessible at unchained.com. | |
| HQ Country | |  | | | |
| HQ City | Newcastle | George Town | Volcano, CA | Austin, TX | |
| Deal Date | 18 May 2026 | 8 Jul 2025 | 3 Jan 2025 | 18 Apr 2023 | |
| Round | Seed | Seed | Seed | Series B | |
| Raised | $4M | $14M | $5M | $60M | |
| Investors | PXN Ventures; Salica Investments | Pampa Energia; FJ Labs; Goldcrest Capital; Collaborative Fund; Grupo Sielecki; Luxor Technology; Sunna Ventures | East Ventures; Plan B Fund; Tether; Fulgur Ventures; Bitcoin Opportunity Fund; Grupo Salinas; Lightning Ventures | Highland Capital Partners; Anil Patel; Ecliptic Capital; Valor Equity Partners; TVP; Ironwood Ventures | |
| Valuation | undisclosed | undisclosed | $50M | undisclosed | |
| EV/Revenue | |||||
| EV/EBITDA | |||||
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NYDIG Competitors
NYDIG competitors include listed companies like Bullish and Alliance Witan, and private ones like 21.co, Babel Finance, ConsenSys and Wealthsimple.
| Company | HQ | Status | Revenue | EBITDA | Valuation | Revenue Multiple |
|---|---|---|---|---|---|---|
 Switzerland | Private | $100M | - | $2B | - | |
 Hong Kong | Private | - | - | $2B | - | |
| New York City, NY | Private | $252M | - | $7B | 27.8x | |
 Toronto | Private | - | - | $7.3B | - | |
| United States | Publicly listed | $245B | ($727M) | $5.3B | 13.5x | |
| United Kingdom | Publicly listed | $327M | - | $7B | - |
NYDIG Public Comps
NYDIG is still privately-owned, but its public comps include Alliance Witan, Janus Living, Guolian Securities, Changjiang Securities, Blue Owl Capital Inc., St James's Place, Intermediate Capital Group, Compagnie du Cambodge, Remgro and FUNO.
| Last FY | EV/Revenue | EV/EBITDA | ||||||
|---|---|---|---|---|---|---|---|---|
| Revenue | EBITDA | Last FY | LTM | 2027E | Last FY | LTM | 2027E | |
| $327M | - | 22.9x | - | - | - | |||
| $771M | $59M | 8.4x | 7.5x | 109.5x | 24.9x | |||
| $1.4B | $594M | 4.9x | 5.1x | 11.6x | - | |||
| $1.6B | - | 4.3x | 3.9x | - | - | |||
| $2.9B | $849M | 5.1x | 5.3x | 17.2x | 9.1x | |||
| $40B | $1.8B | - | - | - | - | |||
| $1.4B | $801M | 10.2x | 10.7x | 18.2x | 18.3x | |||
| $158M | $16M | 48.2x | - | 482.6x | - | |||
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Common questions about NYDIG
| When was NYDIG founded? | NYDIG was founded in 2017. |
| Where is NYDIG headquartered? | NYDIG is headquartered in New York City, NY, United States. |
| Is NYDIG publicly listed? | No, NYDIG is a private, VC-backed company. |
| What is NYDIG's valuation? | NYDIG was last valued at $7B in its undisclosed-stage round in December 2021. |
| How much funding has NYDIG raised? | NYDIG has raised $1.4B across 6 funding rounds. |
| What was NYDIG's last funding round? | NYDIG's last funding round was a $1B undisclosed-stage round in December 2021, led by Westcap. |
| Who are NYDIG's investors? | NYDIG's investors include Bessemer Venture Partners, MassMutual, FinTech Collective, New York Life Insurance, Morgan Stanley, Thirdstream Partners, FS Credit Opportunities, Soros Fund Management, Liberty Mutual Insurance, Starr Companies and 7 others. |
| What is NYDIG's revenue? | NYDIG's latest recorded revenue is $100M (December 2021). |
| What is NYDIG's revenue multiple? | NYDIG's latest valuation implies a 70.0x revenue multiple ($7B valuation on $100M of revenue). |
| Which companies are comparable to NYDIG? | Companies comparable to NYDIG include 21.co, Babel Finance, ConsenSys, Wealthsimple, Bullish and Alliance Witan. |
| How many companies has NYDIG acquired? | NYDIG has acquired 4 companies, including Crusoe (bitcoin mining unit), Bottlepay, Arctos Capital and Digital Assets Data. |
| What was the largest acquisition by NYDIG? | The $300M acquisition of Bottlepay in October 2021 is the largest acquisition NYDIG has made to date. |
| How many companies has NYDIG invested in? | NYDIG has invested in 10 companies, including Rightbrain, Unblock, JAN3, Unchained, Coinpanion, The TIE, Digital Power Optimization and GDA. |
| What was NYDIG's last investment? | In May 2026, NYDIG invested in Rightbrain's $4M seed round alongside PXN Ventures and Salica Investments. |
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