Riot Moves Bitcoin Custody to BitGo, Ending NYDIG Arrangement

Riot Platforms has finished transferring its digital assets from NYDIG Trust Company to BitGo Bank & Trust. The change represents the formal completion of a custody migration for the Bitcoin mining company and marks the end of its former relationship with NYDIG, according to Crypto Economy and Crypto.news.

Crypto Economy reports that the NYDIG contract terminated automatically when the fund migration was completed, meaning Riot did not incur early exit penalties. It describes the transaction as a completed transfer rather than a planned or proposed change, although the supplied summary does not provide a final reserve balance.

The two outlets corroborate the identity of both custodians but emphasize different aspects of the process. Crypto.news says the arrangement had been in place since November 2023 and cites a November 4 SEC filing, while Crypto Economy focuses on the mechanics of the migration and contract termination. No supplied outlet contradicts the other on the transaction’s completion or the parties involved.

The custody switch occurs while Bitcoin’s underlying network remains active: verified data from mempool.space places network hashrate at 1,021 EH/s and difficulty at 148.4 trillion. These figures describe current network conditions but do not establish a direct relationship to Riot’s transfer or indicate how much Bitcoin the company holds in custody.

Live market context shows Bitcoin at $80,202, up 3.47% over 24 hours but down 0.63% over seven days, with a $1.61 trillion market capitalization. The broader crypto market is broadly up and totals $2.75 trillion, while the Fear & Greed index stands at 34, classifying sentiment as fear. Further disclosures concerning Riot’s post-migration custody structure and reserve holdings would provide additional context on how the change is being implemented.