Riot Platforms Repays Coinbase Loan, Releases Bitcoin and Cash Collateral
The company settled its secured facility in September, freeing pledged assets as it pursues funding for its Rockdale data center.
Key takeaways
- Riot repaid and terminated its up to $200 million Coinbase Credit loan facility on Sept. 21.
- The repayment released bitcoin, USDC and cash pledged as collateral.
Riot Platforms repaid and terminated its secured loan facility with Coinbase Credit on Sept. 21, settling all outstanding principal and interest. The facility allowed borrowing of up to $200 million.
The repayment released bitcoin, USDC and cash that had been pledged as collateral. Riot had announced an up to US$573,000,000 delayed-draw term loan for its Rockdale data center on Aug. 14.
Simply Wall St. said removing the secured debt modestly improves near-term balance-sheet flexibility, but does not resolve risks tied to project execution and Bitcoin price swings.
As of 20:00 UTC on Oct. 6, Riot shares traded at $18.93, down 2.02% from the previous close.
This article was produced with the help of AI technology. Source: Yahoo Finance
