Riot Completes Early Repayment of $200 Million Bitcoin-Backed Loan
- Riot voluntarily repaid its $200 million loan to Coinbase on September 21, avoiding early termination fees.
- The loan carried a fixed annual interest rate of 6.15% after an amendment in April, with maturity extended to April 2027.
- Riot had pledged Bitcoin as collateral, including approximately half of its total holdings as of June end.
- The repayment releases restrictions on collateral, which included Bitcoin and other assets held with Coinbase Custody Trust.
- Riot originally secured a $100 million facility in April last year, doubling it the following month with a one-time fee.
Riot’s decision to repay the loan early removes prior restrictions on its assets and concludes its financial commitments under the agreement with Coinbase. This strategic move aligns with Riot’s expansion efforts in both bitcoin mining and data center operations.
By settling the debt ahead of schedule, Riot frees up significant resources previously tied as collateral, enhancing its operational flexibility for future ventures and expansions.
