{"id":23403,"date":"2025-04-23T14:46:48","date_gmt":"2025-04-23T14:46:48","guid":{"rendered":"https:\/\/dogewisperer.com\/?p=23403"},"modified":"2025-04-23T14:46:48","modified_gmt":"2025-04-23T14:46:48","slug":"riot-platforms-secures-100m-bitcoin-backed-credit-line-from-coinbase","status":"publish","type":"post","link":"https:\/\/dogewisperer.com\/?p=23403","title":{"rendered":"Riot Platforms Secures $100M Bitcoin-Backed Credit Line From Coinbase"},"content":{"rendered":"
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Bitcoin (BTC) miner Riot Platforms (RIOT) has struck a $100 million credit agreement with Coinbase\u2019s credit arm, using bitcoin as collateral to secure short-term funding for its ongoing expansion.<\/p>\n

The publicly traded mining firm said in a press release<\/a> it would draw on the facility over the next two months. The deal offers Riot, which currently holds 19,223 BTC worth over $1.8 billion, a line of credit that avoids issuing new shares.<\/p>\n

\u201cThis credit facility is a key part of our efforts to diversify sources of financing to support our operations and strategic growth initiatives, with a view towards long-term stockholder value creation,\u201d said CEO Jason Les in a statement.<\/p>\n

The loan, issued by Coinbase Credit, comes with a variable interest rate: borrowers will pay at least 7.75% annually, calculated as the greater of 3.25% or the federal funds rate upper bound, plus 4.5%. The loan term is 364 days, though Riot may seek a one-year extension if Coinbase agrees to it.<\/p>\n

The credit facility is secured by a portion of Riot\u2019s total bitcoin reserves. The firm said it will use the funds \u201cto pursue key strategic initiatives and for general corporate purposes.\u201d<\/p>\n

Coinbase has been making other similar deals. Just last week, healthcare technology firm Semler Scientific (SMLR) announced it reached an agreement with Coinbase to borrow cash via a loan secured by its bitcoin holdings.<\/a><\/p>\n

Hut 8 (HUT), another bitcoin miner, has also leveraged a bitcoin-backed credit facility <\/a>with Coinbase in the past.<\/p>\n<\/div>\n","protected":false},"excerpt":{"rendered":"

Bitcoin (BTC) miner Riot Platforms (RIOT) has struck a $100 million credit agreement with Coinbase\u2019s credit arm, using bitcoin as collateral to secure short-term funding for its ongoing expansion. The publicly traded mining firm said in a press release it would draw on the facility over the next two months. The deal offers Riot, which […]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"iawp_total_views":0,"footnotes":""},"categories":[2],"tags":[3,4,5],"class_list":["post-23403","post","type-post","status-publish","format-standard","hentry","category-news","tag-crypto","tag-doge","tag-news"],"_links":{"self":[{"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/posts\/23403","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=23403"}],"version-history":[{"count":0,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/posts\/23403\/revisions"}],"wp:attachment":[{"href":"https:\/\/dogewisperer.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=23403"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=23403"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=23403"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}