Riot Repays Coinbase Loan Early, Cuts Ties on $340M BTC Collateral

Riot Platforms has fulfilled its obligations by repaying a $200 million loan to Coinbase ahead of schedule. The mining company successfully terminated the bitcoin-secured credit line, freeing up 5821 BTC - approximately 51% of its crypto reserves as of June's end.

The collateral on this loan was valued at around $340.7 million and was initially set to run until April 2027. However, Riot closed it without incurring any early repayment penalty. The annual interest rate for the loan was a relatively low 6.15%.

In related news, the company is expanding its AI data center business. In August, Riot signed a 20-year contract for 191 MW of computing power.