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Get filing alertsRiot Platforms moves bitcoin custody from NYDIG Trust to BitGo Bank & Trust
Filed October 14, 2026 · Period ending October 7, 2026 · ~1 min read
Key Changes
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Riot is transferring its digital asset and cash custody from NYDIG Trust to BitGo Bank & Trust under a new custodial services agreement.
Item 1.01 verify on EDGAR → -
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BitGo Bank & Trust will hold Riot's digital assets in segregated custodial accounts, not commingled with other clients' assets.
Item 1.01 verify on EDGAR → -
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BitGo Bank & Trust's liability is capped at six months of fees, with exceptions for fraud, willful misconduct, and gross negligence.
Item 1.01 verify on EDGAR → -
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The custody agreement has a one-year initial term, auto-renews, and Riot can terminate early with 14 days' notice and no fee.
Item 1.01 verify on EDGAR →
Summary
Riot Platforms is changing the custodian for its bitcoin holdings, moving from NYDIG Trust to BitGo Bank & Trust. The new agreement provides segregated custody, meaning Riot's digital assets will be held separately from other clients' assets, which is a positive for asset protection. The agreement has a one-year term with automatic renewal, and Riot can exit with just 14 days' notice and no early termination fee, giving the company flexibility.
One notable aspect is the liability cap: BitGo Bank & Trust's liability is limited to six months of fees, except in cases of fraud, willful misconduct, or gross negligence. This is a common but important risk allocation in custody agreements, as it limits potential recovery in most loss scenarios. Overall, this is a routine operational change with no immediate red flags, but investors should be aware of the liability cap as a standard feature of such agreements.
Section-by-Section Diff
Event · Item 1.01 — Entry into a Material Definitive Agreement
Item 1.01 — Entry into a Material Definitive Agreement filed; see Key Changes for terms.
Added in current filing · verify on EDGAR →
The Company entered into the Custody Agreement in connection with the transfer of its custody relationship from NYDIG Trust Company LLC (“NYDIG Trust”) to BitGo Bank & Trust pursuant to an account transfer and transition agreement among the Company, NYDIG Trust, BitGo Bank & Trust and certain of their affiliates.
Riot is moving its digital asset and cash custody from NYDIG Trust to BitGo Bank & Trust. The existing Digital Asset Custodial Agreement with NYDIG Trust will terminate automatically once the transfer is complete. This is a change in the company's key custody provider for its bitcoin holdings.
Added in current filing · verify on EDGAR →
BitGo Bank & Trust will hold the Company’s digital assets in segregated custodial accounts maintained solely for the Company and will not commingle them with the digital assets of its other clients
The new custodian will hold Riot's digital assets in segregated accounts, not mixed with other clients' assets. The company retains title to its digital assets, which are kept separate from BitGo Bank & Trust's proprietary assets. This provides clarity on asset protection in the event of custodian insolvency.
Added in current filing · verify on EDGAR →
The Custody Agreement limits BitGo Bank & Trust’s liability to the fees paid or payable during the six months preceding the event giving rise to the claim, subject to certain exceptions, including for fraud, willful misconduct and gross negligence.
BitGo Bank & Trust's liability is capped at six months of fees, with exceptions for fraud, willful misconduct, and gross negligence. This limits Riot's potential recovery from the custodian in most loss scenarios, which is a common but notable risk allocation in custody agreements.
Show 1 minor / wording change
Added in current filing · verify on EDGAR →
The Custody Agreement has an initial term of one year and automatically renews for successive one-year terms unless either party provides notice of non-renewal at least 60 days before the end of the then-current term. The Company may terminate the Custody Agreement early upon 14 days’ prior written notice, without payment of an early termination fee, as provided by the amendment.
The agreement runs for one year and renews automatically. Riot can exit early with 14 days' notice and no early termination fee, giving the company flexibility to change custodians if needed.
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Figures/quotes linked to EDGAR · Narrative written by AI · Oct 15, 2026 · How we verify