Riot Platforms Repays Coinbase Loan and Ends $200 Million Bitcoin-Backed Facility

Riot Platforms has repaid its outstanding borrowing from Coinbase Credit and terminated a $200 million credit facility secured by the company’s bitcoin holdings. The repayment releases Coinbase’s claims on the bitcoin pledged as collateral for the loan.

Bitcoin-Backed Facility Terminated

The facility was arranged through Coinbase Credit, a lending unit of cryptocurrency exchange Coinbase. Under the agreement, Riot’s bitcoin assets served as collateral for the company’s borrowing.

With the outstanding balance repaid, the credit facility has been terminated and the associated security interests in the pledged bitcoin have been released.

Reduced Encumbrance on Bitcoin Holdings

Ending the facility removes the lender’s claims over the bitcoin used to secure the debt. The move also eliminates the borrowing arrangement tied to the $200 million credit line.

Riot Platforms, a publicly traded bitcoin mining company listed on the Nasdaq under the ticker RIOT, has used bitcoin-backed financing as part of its broader capital strategy. The repayment marks the conclusion of its borrowing relationship with Coinbase Credit under this facility.