Riot Repays Coinbase Loan, Unlocks $494M in Bitcoin

Riot Platforms has repaid its $200 million Coinbase loan, releasing 5,821 Bitcoin that were previously locked up as security. The released coins are now worth approximately $494 million at today's price of about $84,800 per BTC.

The repayment clears Riot's debt and interest on the loan, which was due in April 2027 but was repaid seven months early. No early repayment fee was incurred.

Riot has been using its Bitcoin sales to fund its buildout of artificial intelligence (AI) data centers at its Texas sites. The company signed a $9.1 billion lease for 191 megawatts of computing capacity in August and has lined up additional funding through a Morgan Stanley loan and a credit backstop.