A custody agreement with BitGo Bank & Trust moves Riot Platforms' digital assets away from NYDIG Trust Company. The miner has not released the terms, the amount of Bitcoin involved or the effective date.
Riot Platforms signed a custody agreement with BitGo Bank & Trust, National Association, shifting its digital assets out of NYDIG Trust Company LLC and into BitGo's vaults. BitGo will then serve as custodian for those assets going forward.
The miner has not publicly released the terms of the deal. It also has not said how much Bitcoin is moving or when the transfer becomes effective.
Why BitGo, and why now
Riot has not publicly explained why it chose to switch providers. The timeline does show a link between the two custodians: in August 2026, BitGo Holdings, Inc. acquired NYDIG's institutional trading business for approximately $42.5 million.
Meanwhile, the OCC approved BitGo Bank & Trust in December 2025 to operate as a federally chartered national trust bank. Crypto Briefing says the acquisition is part of a broader BitGo push into trading, settlement and custody services, and that adding Riot as a custody client fits that expansion.
A September balance sheet move
Since November 2023, Riot had used NYDIG for segregated cold storage of its Bitcoin holdings. Research compiled on the deal places the custody transition in September 2026.
That month, Riot repaid a $200 million Coinbase Credit facility. Paying it off released Bitcoin collateral held in custody with Coinbase.
What to watch next
Swapping a state-chartered trust company for a federally chartered national trust bank raises the regulatory profile of whoever holds the coins, according to Crypto Briefing. Next, watch for an SEC filing that spells out the agreement's terms, the amount of Bitcoin transferred, and whether Riot uses the freed-up collateral for new financing or holds it outright.
Source: Crypto Briefing
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