Riot Platforms Repays Coinbase $200 Million Bitcoin-Backed Credit Facility in Full
JH Kim
Summary
- Riot Platforms said it had fully repaid and terminated its $200 million Bitcoin-backed credit facility from Coinbase Credit.
- The company said the loan carried an interest rate of 6.15% after the agreement was amended in April, and that no fee was charged for early termination.
- Riot Platforms said it had pledged 5,821 BTC as collateral out of its 11,380 BTC holdings, and that the related security interest was released after the loan was repaid.
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Riot Platforms, a U.S. cryptocurrency miner, has fully repaid its $200 million Bitcoin-backed credit facility from Coinbase Credit and ended the agreement.
According to Bitcoin News on September 29, Riot repaid the full principal and accrued interest on September 21. No fee was charged for early termination.
The loan carried a 6.15% interest rate after the agreement was amended in April.
As of June 30, Riot had pledged 5,821 BTC as collateral out of its 11,380 BTC holdings. The collateral was worth about $340.7 million at the time, and the related security interest was released after the loan was repaid.
JH Kim
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