PANews reported on November 7 that according to Blockspace, the Bitcoin infrastructure and financial services company NYDIG has acquired the Bitcoin mining company Consensus Technology Group (CTG). The news shows that the transaction may have been completed in October, and the LinkedIn pages of CTG co-founders David Westrop and Joshua Zappala both show that they are currently employed by NYDIG, responsible for operations and corporate development strategy respectively.
CTG operates Bitcoin mining farms in North Dakota, South Dakota, Pennsylvania, and Missouri, with a total management capacity of 120 megawatts and 5 EH/s. This acquisition may indicate an intensification of M&A activity in the Bitcoin mining industry, especially in the context of the fourth Bitcoin halving compressing miners' profits, where well-funded companies like NYDIG may seize the opportunity to acquire mining companies in financial distress. In October this year, NYDIG also invested in Coinmint's Massena mining facility in New York, indicating its continued expansion in the mining sector.
