Riot Platforms' credit agreement with Coinbase increases to $200 million

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According to Foresight News, Nasdaq-listed Bitcoin mining company Riot Platforms announced an increase in its credit facility with Coinbase Credit from $100 million to $200 million, with the key terms of the credit line remaining unchanged, including the applicable interest rate.

Riot Platforms stated that this move aims to diversify financing channels and reduce capital costs to support its long-term strategic goals. The borrowing under this credit line will be collateralized by a portion of the company's Bitcoin holdings, with an annual interest rate of the federal funds rate cap (or 3.25%, whichever is higher) plus 4.5%.

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