NYDig, a provider of technology and investment solutions for bitcoin, has acquired Arctos Capital, a technology-driven commercial lender that provides financing solutions to bitcoin holders, investors, and mining businesses. Arctos will become part of NYDig’s market solutions business, in which the firm provides industry-leading access to the bitcoin spot and derivatives markets, data-driven execution strategies, and custom financing solutions. Financial terms were not disclosed.
Tejas Shah, head of market solutions at NYDig, said, “Arctos Capital is a pioneer in providing equipment financing and other tailored capital market products for the bitcoin mining industry. Randy and Trevor Smyth have been long-time leaders in the industry, and we’ve admired and appreciated their focus on supporting and funding their clients with innovative solutions. NYDig’s industry-leading financing capabilities are strengthened by this acquisition, allowing us to combine NYDig’s long-term, low-cost capital with Arctos’s market expertise in order to deliver an expanded suite of solutions for our clients.”
Trevor Smyth, managing partner of Arctos Capital, added, “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. We share the same vision for Bitcoin as the team at NYDig and are greatly aligned with their principled approach to doing business and building relationships. Over the coming months, as part of NYDig, we will be deploying capital to support bitcoin miners across the U.S. and Canada. Our lending products will also provide investable credit solutions for banks and life insurance companies, which will help to bring in more low-cost capital for the industry.”