Riot Platforms Upsizes Coinbase Credit Facility to $200M

Riot Platform Inc. (NASDAQ:RIOT) is one of the most promising stocks according to Wall Street analysts. Earlier in May, Riot Platforms announced that it expanded its credit facility with Coinbase Credit, which is a subsidiary of Coinbase Global Inc. (NASDAQ:COIN). The existing $100 million credit facility has been upsized to a total commitment of up to $200 million. This aims to diversify Riot’s financing sources and potentially lower its cost of capital.

Key terms, including the interest rate, remain identical to the previous facility. Borrowed amounts will bear interest at an annual rate equal to the greater of the federal funds rate (upper limit) or 3.25%, plus an additional 4.50%. The credit facility has a maturity of 364 days from the effective date, with an option for a 364-day extension subject to Coinbase’s approval. The loan is secured by a portion of Riot’s Bitcoin holdings.

The expansion of the credit facility comes in the middle of the recent shifts for Riot Platforms, which include its removal from several major indices as of June 28. However, the company also reported an increase in Bitcoin production for May 2025 and mined 514 Bitcoin, which is an 11% increase from the past month.

Riot Platform Inc. (NASDAQ:RIOT) operates as a Bitcoin mining company in the US. Coinbase Global Inc. (NASDAQ:COIN) operates a platform for crypto assets in the US and internationally.

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Disclosure: None. This article is originally published at Insider Monkey.