Wintermute Plans $1B AI Infrastructure Push as It Diversifies Beyond Crypto

Crypto market maker Wintermute plans to invest about $1 billion over the next five years in high-frequency trading and artificial intelligence data center infrastructure as it expands beyond digital assets.

Wintermute CEO Evgeny Gaevoy told Bloomberg on Wednesday that the London-based firm is seeking to build a larger presence in equities, commodities, foreign exchange and prediction markets. The company wants non-crypto activities to generate more than half of its revenue by the end of 2027, compared with about 10% currently.

The expansion comes as crypto trading volumes have weakened. Wintermute's average daily trading volume has dropped to around $10 billion this year from roughly $15 billion in 2025, while Bitcoin has remained well below its October peak, per Bloomberg.

"We are now going up against firms that have spent decades optimizing their technology and infrastructure for these markets, so obviously the level of investment required is significant," Gaevoy told the outlet.

Wintermute has already begun building its traditional finance business. Its US affiliate recently registered as a broker-dealer, allowing it to trade equities and equity options and participate in exchange-traded products.