Riot Platforms has entered into a custody agreement with BitGo Bank & Trust, National Association, to manage its digital asset holdings. This transition moves the company's assets from its previous custodian, NYDIG Trust Company LLC, where they had been held since November 2023.
The transition is reported to have occurred in September 2026. This shift follows the acquisition of NYDIG’s institutional trading business by BitGo Holdings, Inc. in August 2026 for approximately $42.5 million.
In December 2025, the Office of the Comptroller of the Currency granted BitGo Bank & Trust approval to operate as a federally chartered national trust bank. Riot has not disclosed the specific terms of the new agreement or the volume of Bitcoin involved.
Concurrently, in September 2026, Riot repaid a $200 million credit facility to Coinbase. This repayment released Bitcoin collateral that had been previously held in custody by Coinbase, reducing the amount of assets the company has tied up with lenders.
