Riot Platforms moves its Bitcoin custody from NYDIG to BitGo Bank & Trust

Riot Platforms has signed a custody agreement with BitGo Bank & Trust, National Association. The deal moves Riot’s digital assets out of NYDIG Trust Company LLC and into BitGo’s vaults. What the custody agreement covers Under the arrangement, Riot (NASDAQ: RIOT) will transfer assets currently held at NYDIG Trust to BitGo. BitGo will then serve as the custodian for Riot’s digital assets going forward. Riot has not publicly released the specific terms of the agreement. It also has not said how much Bitcoin is moving or when the transfer becomes effective. Research compiled on the deal places the custody transition in September 2026. That timing lines up with another balance sheet move Riot made the same month. In September 2026, Riot repaid a $200 million Coinbase Credit facility. Paying it off released Bitcoin collateral that had been held in custody with Coinbase. Why BitGo, and why now In December 2025, the Office of the Comptroller of the Currency (OCC) approved BitGo Bank & Trust to operate as a federally chartered national trust bank. In August 2026, BitGo Holdings, Inc. acquired NYDIG’s institutional trading business for approximately $42.5 million. The acquisition is ...