Riot Platforms Repays $200 Million Coinbase Credit Facility

Riot Platforms, a US cryptocurrency miner, has successfully repaid its $200 million Bitcoin-backed credit facility from Coinbase Credit. The company terminated the agreement on September 21 after repaying the full principal and accrued interest.

The loan carried an interest rate of 6.15% after being amended in April, with no fee charged for early termination.

Riot Platforms had pledged 5,821 BTC as collateral out of its 11,380 BTC holdings, which were worth approximately $340.7 million at the time of the loan. The related security interest was released once the loan was repaid.