Riot BitGo Custody Deal Replaces NYDIG, With A 14-Day Exit

Riot Platforms is changing who guards its bitcoin. An 8-K filed on October 14, 2026 says the miner signed a custody deal with BitGo Bank & Trust. Its digital assets and cash will move away from NYDIG Trust, and the Riot BitGo custody agreement sets out fees, liability limits and exit rights in unusual detail.

Item 1.01 of Riot's 8-K, with the custody transfer. Source: SEC EDGAR.

What the filing says about Riot's custody switch

Riot first signed the BitGo Custodial Services Agreement on October 7, then amended it on October 14. BitGo Bank & Trust, National Association, becomes custodian of the company's digital assets and cash. The move follows an account transfer and transition agreement involving Riot, NYDIG Trust and BitGo.

When the transfer is complete, Riot's earlier Digital Asset Custodial Agreement with NYDIG Trust ends automatically, so the Riot BitGo custody contract becomes the only one. The filing does not give a completion date. It also does not say how much bitcoin is moving.

How BitGo will hold the assets

BitGo will keep Riot's assets in segregated accounts maintained only for the company, without mixing them with other clients' holdings. There are two exceptions, both at Riot's direction. Assets may sit briefly in an omnibus account to settle trades with a BitGo affiliate. They may also sit in one if Riot opts into BitGo's settlement services.

Riot keeps title to everything in custody, and the assets stay separate from BitGo's own balance sheet. BitGo must carry insurance in types and amounts that are commercially reasonable for the service. Riot pays a monthly fee based on the average value of the assets held, and the filing does not state the rate.

Exit rights and the liability cap

The contract runs one year and renews automatically for one-year terms. Either side can stop that with notice at least 60 days before a term ends. The amendment also lets Riot cancel early on 14 days' written notice without paying a termination fee.

The term, termination and liability paragraphs of the custody agreement summary. Source: SEC EDGAR.

Liability is capped. BitGo's exposure for a claim is limited to the fees paid or payable in the six months before the event. Fraud, willful misconduct and gross negligence are excluded from that cap. Riot says the full agreement and its amendment will be filed as exhibits to its annual report for 2026.

Where it sits in Riot's recent filings

A separate 8-K covered another change. On September 21, Riot fully prepaid its credit facility with Coinbase Credit, which allowed borrowing of up to $200 million, and the filing says no early termination fees applied. That facility was secured by bitcoin, USDC and cash held at Coinbase Custody Trust Company.

BitGo's name has come up elsewhere in TOCE coverage. It was added as a second custodian in a Grayscale Hyperliquid ETF filing. The Riot filing is a different relationship, and the two have no stated connection.

This article reports what Riot disclosed about the Riot BitGo custody switch. It does not predict how the move will affect the company or its stock.