Riot Platforms Secures $100M Bitcoin-Backed Credit Line From Coinbase

Riot Platforms Secures $100M Bitcoin-Backed Credit Line From Coinbase

The funds will be used for strategic initiatives and general corporate purposes, and cash drawn from the line will carry at least a 7.75% interest rate.

Riot Platforms Announces $100 Million Credit Facility With Coinbase

Riot Platforms, Inc., an industry leader in vertically integrated Bitcoin mining, is pleased to announce that it has entered into a $100 million credit facility (the "Credit Facility") with Coinbase Credit, Inc., a subsidiary of Coinbase Global, Inc..

Unusual Options Activity: Riot Platforms (RIOT)

Bitcoin mining company Riot Platforms (RIOT) is starting to trend higher as bitcoin prices trend higher. One trader is betting that shares will keep trending higher. That’s based on the December $11 calls. With 328 days until expiration, 41,425 contracts traded compared to a prior open interest of 104, for a massive 398-fold rise in volume on the trade. The buyer of the calls paid $1.26 to make the bullish bet. Riot shares recently traded for ab…

Riot Raises $100M: What’s Driving the VC Boom in Bitcoin Mining

In the last 15 days, VC fundings for Bitcoin mining infrastructure has increased dramatically. From Auradine to Bitdeer – various such companies have received million dollar support. In another instance of it, Riot, a NASDAQ listed Bitcoin mining infrastructure provider, has received $100 mn support. The support in the form of credit facility has been provided by leading crypto exchange, Coinbase. The capital injection will be used to expand Rio…

Riot Platforms Unlocks $100M Bitcoin-Backed Credit Facility With Coinbase For Growth

Riot secures a $100M Bitcoin-backed credit facility from Coinbase to fund growth . The credit facility is backed by Riot’s Bitcoin reserves. Loan terms include a 7.75% annual interest rate and 364-day maturity. Riot Platforms, a Bitcoin mining company, has acquired a $100 million credit facility from Coinbase Credit. The deal provides Riot with a flexible credit line that supports operational expansion. Riot can access funds from the credit faci…

Riot Platforms Secures $100 Million Bitcoin-Backed Loan from Coinbase

TLDR Riot Platforms secured a $100 million credit facility from Coinbase using its Bitcoin holdings as collateral The loan carries an annual interest rate of 4.5% plus the higher of federal funds rate upper limit or 3.25% Riot holds 19,233 BTC worth nearly $1.8 billion, making it the third-largest corporate Bitcoin holder The funds will support operations and strategic growth initiatives according to CEO Jason Les Bitcoin miners face industry c…