Key Takeaways:
- Riot Platforms secured a $100M Bitcoin-backed loan from Coinbase, using part of its 19,223 BTC treasury (valued at ~$1.8B) as collateral.
- The loan, Riot’s first of its kind, will fund corporate operations and strategic growth, carrying an annual interest rate of at least 9%.
- Despite stock volatility, Riot reported $376.7M in sales and $109.4M net income for 2024, with an upcoming earnings call on May 1.
Riot Platforms, a major Bitcoin mining company, has secured a $100 million Bitcoin-backed loan from Coinbase’s credit division, using a portion of its 19,223 BTC—currently valued at about $1.8 billion—as collateral.
This marks Riot’s first Bitcoin-backed facility and is intended to support ongoing corporate operations and strategic growth initiatives.
Riot Platforms Announces $100 Million Credit Facility with @Coinbase.
— Riot Platforms, Inc. (@RiotPlatforms) April 23, 2025
“Riot has entered into its first bitcoin-backed facility, which provides us with non-dilutive funding at an attractive cost of financing,” said @JasonLes_, CEO of Riot. “This credit facility is a key part of… https://t.co/GWAbpWy2pY
The one-year credit line, which can be extended for another year, carries an annual interest rate of at least 9%, tied to the federal funds rate.
Riot currently holds the third-largest corporate Bitcoin treasury and has been actively expanding its crypto portfolio, including a $500 million BTC purchase in December and a planned $500 million bond offering.
Shares of Riot (NASDAQ: RIOT) rose over 8% on April 23, following the loan announcement and a broader rally in mining stocks.
Despite recent gains, RIOT stock remains down 24.6% year-to-date, reflecting broader market pressures and declining Bitcoin prices.
Nevertheless, Riot ended 2024 on a strong note, reporting $376.7 million in sales and $109.4 million in net income.
The company will release its Q1 2025 earnings on May 1.
Its performance continues to show a close correlation with Bitcoin’s price trends.
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