Riot Platforms Secures $100 Million Credit Facility from Coinbase
- Riot Platforms has established a $100 million credit facility with Coinbase Credit.
- The facility is secured by a portion of Riot’s Bitcoin holdings.
- Funds will support strategic initiatives and diversify financing sources.
- The interest rate is set at 4.5% plus the federal funds rate upper limit or 3.25%, whichever is higher.
- Riot holds 19,223 BTC, valued at nearly $1.8 billion.
Riot Platforms has secured a significant $100 million credit facility from Coinbase Credit, backed by its Bitcoin holdings, to pursue strategic growth initiatives and diversify its financing sources. Riot currently holds over 19,000 BTC on its balance sheet.
Source (2.6)https://decrypt.co/316048/bitcoin-miner-riot-platforms-100m-credit-facility-coinbase?rand=52368
