Riot Platforms and Coinbase raise $200 million in credit facility

Odaily News Riot Platforms, a Nasdaq-listed Bitcoin mining company, announced that it will increase its credit facility with Coinbase Credit from $100 million to $200 million. The key terms of the credit facility remain unchanged, including the applicable interest rate.
Riot Platforms said the move is aimed at diversifying its financing channels and reducing capital costs to support long-term strategic goals. Borrowings under the credit line will be collateralized by part of the company's bitcoin holdings, with an annual interest rate of 4.5% plus the federal funds rate cap (or 3.25%, whichever is higher).