Riot Platforms, Inc Announces Upsizing of Credit Facility to $200 Million with Coinbase

Published: 2025-05-20 11:37:30 ET RIOT

Published on 05/20/2025 at 11:37

Riot Platforms, Inc. announced that it has successfully upsized its existing $100 million credit facility to a total commitment of up to $200 million with CoinbaseCredit, Inc, a subsidiary of CoinbaseGlobal, Inc.Key terms under the Upsized Credit Facility remain identical to the Existing Credit Facility, including the applicable interest rate, and Riot intends to use proceeds from the Upsized Credit Facility to pursue key strategic initiatives and for general corporate purposes. All amounts borrowed under the Upsized Credit Facility will bear interest at an annual rate equal to (a) the greater of (i) the federal funds rate ? upper limit on the date of the applicable borrowing, and (ii) 3.25%, plus (b) 4.50%.

The Upsized Credit Facility will mature 364 days after the effective date, but the Company may request that the maturity date be extended by an additional 364 days, subject to consent by Coinbase. The amount borrowed under the Upsized Credit Facility will be secured by a portion of the Company's total bitcoin holdings.