Riot Platforms Migrates Bitcoin Custody to BitGo

The migration follows a series of adjustments to the company’s financial arrangements throughout 2026. Under the new agreement, BitGo is required to maintain segregated accounts for Riot, ensuring the firm’s Bitcoin remains isolated from both BitGo’s corporate assets and other client holdings. While the contract initially spans one year with automatic renewals, Riot secured an amendment allowing for termination with just 14 days' written notice.

This custodial change coincides with a period of aggressive capital deployment for the miner. Riot reported selling 20,264 BTC during the first nine months of 2026 to generate $1.5 billion, capital earmarked for scaling its data center footprint. With contracted capacity now reaching 1,151 megawatts across its Texas facilities in Rockdale and Corsicana, the company is pivoting heavily toward AI infrastructure. As of September, Riot held 2,418 BTC, valued at approximately $202 million, alongside $748.2 million in cash reserves.