Riot Repays $200 Million Coinbase Loan, Releases Collateralized Bitcoin

Riot Platforms has paid off its $200 million Bitcoin-backed credit line with Coinbase Credit. The loan, which was backed by assets held with Coinbase Custody Trust Company, including Bitcoin (BTC), USDC, and cash, had a fixed annual interest rate of 6.15%. Riot had drawn the full amount by the first quarter of 2026 for strategic initiatives and general corporate purposes.

The company repaid the loan on September 21, voluntarily prepaying the borrowing before its original maturity date. This move allows Coinbase Credit to release its claims on the pledged assets, including the 5,821 BTC that was collateralized.

Riot's Bitcoin holdings stood at 11,380 BTC as of June 30, with 51% of its reserves pledged to Coinbase Credit. The company had listed $548.9 million in cash, including restricted cash, in its August earnings release.