Riot Platforms Announces Upsizing of Credit Facility to $200 million with Coinbase
Riot Platforms (NASDAQ: RIOT) has successfully expanded its credit facility with Coinbase Credit from $100 million to $200 million. The upsized facility maintains identical terms to the existing agreement, including the interest rate calculated as the greater of the federal funds rate or 3.25%, plus 4.50%. The facility will mature in 364 days, with a possible extension for another 364 days subject to Coinbase's approval. The loan is secured by a portion of Riot's Bitcoin holdings and will be used for strategic initiatives and general corporate purposes.
Riot Platforms (NASDAQ: RIOT) ha ampliato con successo la sua linea di credito con Coinbase Credit, portandola da 100 milioni di dollari a 200 milioni di dollari. La linea ampliata mantiene le stesse condizioni dell'accordo esistente, inclusa l'aliquota d'interesse calcolata come il valore maggiore tra il tasso dei federal funds o il 3,25%, più il 4,50%. La linea di credito scadrà dopo 364 giorni, con la possibilità di un'estensione di ulteriori 364 giorni, previa approvazione di Coinbase. Il prestito è garantito da una parte delle riserve di Bitcoin di Riot e sarà utilizzato per iniziative strategiche e scopi aziendali generali.
Riot Platforms (NASDAQ: RIOT) ha ampliado con éxito su línea de crédito con Coinbase Credit de 100 millones a 200 millones de dólares. La línea ampliada mantiene los mismos términos que el acuerdo existente, incluyendo la tasa de interés calculada como el mayor entre la tasa de fondos federales o 3.25%, más 4.50%. La línea vencerá en 364 días, con la posibilidad de una extensión por otros 364 días sujeta a la aprobación de Coinbase. El préstamo está garantizado por una parte de las reservas de Bitcoin de Riot y se utilizará para iniciativas estratégicas y propósitos corporativos generales.
Riot Platforms (NASDAQ: RIOT)는 Coinbase Credit과의 신용 한도를 1억 달러에서 2억 달러로 성공적으로 확장했습니다. 확장된 한도는 기존 계약과 동일한 조건을 유지하며, 이자율은 연방기금금리와 3.25% 중 높은 금리에 4.50%를 더한 금리로 계산됩니다. 이 신용 한도는 364일 후 만기되며, Coinbase의 승인에 따라 추가 364일 연장이 가능합니다. 대출은 Riot의 비트코인 보유 일부를 담보로 하며, 전략적 이니셔티브 및 일반 기업 목적에 사용될 예정입니다.
Riot Platforms (NASDAQ : RIOT) a réussi à étendre sa ligne de crédit avec Coinbase Credit de 100 millions à 200 millions de dollars. La facilité augmentée conserve les mêmes conditions que l'accord existant, y compris un taux d'intérêt calculé comme le plus élevé entre le taux des fonds fédéraux ou 3,25 %, plus 4,50 %. La facilité arrivera à échéance dans 364 jours, avec une possible extension de 364 jours supplémentaires sous réserve de l'approbation de Coinbase. Le prêt est garanti par une partie des avoirs en Bitcoin de Riot et sera utilisé pour des initiatives stratégiques ainsi que pour des besoins généraux de l'entreprise.
Riot Platforms (NASDAQ: RIOT) hat seine Kreditfazilität mit Coinbase Credit erfolgreich von 100 Millionen auf 200 Millionen US-Dollar erweitert. Die erweiterte Fazilität behält die gleichen Bedingungen wie die bestehende Vereinbarung bei, einschließlich eines Zinssatzes, der als der höhere Wert zwischen dem Federal Funds Rate oder 3,25 % plus 4,50 % berechnet wird. Die Fazilität läuft in 364 Tagen ab, mit der Möglichkeit einer Verlängerung um weitere 364 Tage, vorbehaltlich der Zustimmung von Coinbase. Das Darlehen ist durch einen Teil von Riots Bitcoin-Beständen besichert und wird für strategische Initiativen sowie allgemeine Unternehmenszwecke verwendet.
- Doubled credit facility capacity from $100M to $200M, enhancing financial flexibility
- Maintains same interest rate terms despite facility expansion
- Demonstrates ability to secure institutional financing in the crypto sector
- Loan secured by Bitcoin holdings, avoiding equity dilution
- Additional debt increases financial obligations and interest expenses
- Short-term maturity of 364 days creates refinancing risk
- Bitcoin-collateralized loan exposes company to crypto market volatility risk
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.
"Riot is pleased to upsize the credit facility with Coinbase, which is a demonstration of our efforts to diversify our financing sources and lower our cost of capital in order to support greater long-term value creation for our shareholders," said Jason Les, CEO of Riot.
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 limit1 on the date of the applicable borrowing, and (ii)
About Riot Platforms, Inc.
Riot's (NASDAQ: RIOT) vision is to be the world's leading Bitcoin-driven infrastructure platform.
Our mission is to positively impact the sectors, networks and communities that we touch. We believe that the combination of an innovative spirit and strong community partnership allows the Company to achieve best-in-class execution and create successful outcomes.
Riot is a Bitcoin mining and digital infrastructure company focused on a vertically integrated strategy. The Company has Bitcoin mining operations in central
For more information, visit www.riotplatforms.com.
Cautionary Statement Concerning Forward-Looking Statements
Statements in this press release that are not historical facts are forward-looking statements that reflect management's current expectations, assumptions, and estimates of future performance and economic conditions. Such statements rely on the safe harbor provisions of Section 27A of the Securities Act and Section 21E of the Securities Exchange Act of 1934, as amended. Because such statements are subject to risks and uncertainties, actual results may differ materially from those expressed or implied by such forward-looking statements. Words such as "anticipates," "believes," "plans," "expects," "intends," "will," "potential," "hope," and similar expressions are intended to identify forward-looking statements. These forward-looking statements may include, but are not limited to, statements about uncertainties related to market conditions and the utilization of the Credit Facility on the anticipated terms or at all. Detailed information regarding the factors identified by the Company's management which they believe may cause actual results to differ materially from those expressed or implied by such forward-looking statements in this press release may be found in the Company's filings with the
Investor Contact
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303-794-2000 ext. 110
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Media Contact
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1 Represents the upper limit of the federal funds target range established by the Federal Open Market Committee. The federal funds rate – upper limit is
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SOURCE Riot Platforms, Inc.
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