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Riot Secures $100M from Coinbase to Power Bitcoin Mining

Riot Platforms has struck a $100 million credit deal with Coinbase to boost its Bitcoin mining operations. The funds will help finance strategic projects and everyday business needs. Unlike traditional funding, this is non-dilutive—meaning Riot doesn’t have to give up shares.

The credit line is backed by Riot’s Bitcoin holdings and comes with a flexible two-month drawdown window. The loan matures in 364 days, but Riot can extend it another year if Coinbase agrees.

The annual interest rate is the higher of either the federal funds rate or 3.25%, plus 4.5%. CEO Jason Les says this deal helps diversify funding and maximize long-term shareholder value.

Riot, based in Castle Rock, Colorado, runs mining facilities in Texas and Kentucky. It also operates engineering centers in Denver and Houston. This move signals Riot’s push to lead the Bitcoin infrastructure space, backed by strong community and tech efforts.

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Written by 365Crypto

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