As a bitcoin miner, you have a lot to manage, from seeking out inexpensive electricity, to constructing facilities, to acquiring rigs and building a knowledgeable team that can keep them hashing. In speaking with mining companies over the years, we know that bitcoin custody is often an afterthought.

Here we’ll describe the process of securing your mined bitcoin in self-custody while managing a bitcoin treasury, capital expenditures (CapEx), operating expenses (OpEx), operational security (OpSec), limited partner distributions, taxes, and more. Given the ever-present risks of hacks and suspended withdrawals, our goal is to explain the benefits and trade-offs of various approaches to bitcoin self-custody—regardless of the size of your operation.