Riot Platforms Announces $100 Million Credit Facility with Coinbase
Riot Platforms (NASDAQ: RIOT) has secured a $100 million credit facility from Coinbase Credit, Inc., a subsidiary of Coinbase Global, Inc. The multiple drawdown term loan facility will be available over a two-month period following the effective date.
The credit facility represents Riot's first bitcoin-backed funding arrangement, providing non-dilutive financing for strategic initiatives and general corporate purposes. The loan terms include an interest rate calculated as the greater of the federal funds rate or 3.25%, plus 4.50% annually.
The facility will mature in 364 days with a possible extension for an additional 364 days, subject to Coinbase's approval. The loan will be secured by a portion of Riot's bitcoin holdings.
Riot Platforms (NASDAQ: RIOT) ha ottenuto una linea di credito da 100 milioni di dollari da Coinbase Credit, Inc., una controllata di Coinbase Global, Inc. Il prestito a termine con prelievi multipli sarà disponibile per un periodo di due mesi dalla data di efficacia.
Questa linea di credito rappresenta il primo finanziamento di Riot garantito da bitcoin, offrendo un finanziamento non diluitivo per iniziative strategiche e scopi aziendali generali. Le condizioni del prestito prevedono un tasso di interesse calcolato come il maggiore tra il tasso dei fondi federali o il 3,25%, più il 4,50% annuo.
La linea di credito scadrà dopo 364 giorni, con la possibilità di un'estensione di ulteriori 364 giorni, soggetta all'approvazione di Coinbase. Il prestito sarà garantito da una parte delle riserve di bitcoin di Riot.
Riot Platforms (NASDAQ: RIOT) ha asegurado una línea de crédito de 100 millones de dólares de Coinbase Credit, Inc., una subsidiaria de Coinbase Global, Inc. El préstamo a plazo con múltiples disposiciones estará disponible durante un período de dos meses desde la fecha de vigencia.
La línea de crédito representa el primer financiamiento respaldado por bitcoin para Riot, proporcionando financiamiento no dilutivo para iniciativas estratégicas y propósitos corporativos generales. Los términos del préstamo incluyen una tasa de interés calculada como el mayor entre la tasa de fondos federales o 3.25%, más un 4.50% anual.
La línea vencerá en 364 días con una posible extensión por otros 364 días, sujeta a la aprobación de Coinbase. El préstamo estará garantizado por una parte de las tenencias de bitcoin de Riot.
Riot Platforms (NASDAQ: RIOT)는 Coinbase Global, Inc.의 자회사인 Coinbase Credit, Inc.로부터 1억 달러 신용 한도를 확보했습니다. 다중 인출 가능 기간 대출 시설은 효력 발생일로부터 2개월 동안 이용할 수 있습니다.
이 신용 한도는 Riot의 첫 비트코인 담보 자금 조달로, 전략적 이니셔티브 및 일반 기업 목적을 위한 희석 없는 자금 조달을 제공합니다. 대출 조건에는 연방기금금리 또는 3.25% 중 높은 금리에 연 4.50%를 더한 이자율이 포함됩니다.
이 시설은 364일 후 만기되며, Coinbase 승인 시 추가 364일 연장 가능성이 있습니다. 대출은 Riot의 비트코인 보유 일부로 담보됩니다.
Riot Platforms (NASDAQ : RIOT) a obtenu une ligne de crédit de 100 millions de dollars auprès de Coinbase Credit, Inc., une filiale de Coinbase Global, Inc. La facilité de prêt à terme à tirages multiples sera disponible pendant une période de deux mois à compter de la date d'entrée en vigueur.
Cette facilité de crédit représente le premier financement de Riot adossé au bitcoin, offrant un financement non dilutif pour des initiatives stratégiques et des besoins généraux de l'entreprise. Les conditions du prêt incluent un taux d'intérêt calculé comme le plus élevé entre le taux des fonds fédéraux ou 3,25 %, plus 4,50 % par an.
La facilité arrivera à échéance dans 364 jours, avec une possible extension de 364 jours supplémentaires, sous réserve de l'approbation de Coinbase. Le prêt sera garanti par une partie des avoirs en bitcoin de Riot.
Riot Platforms (NASDAQ: RIOT) hat eine Kreditfazilität über 100 Millionen US-Dollar von Coinbase Credit, Inc., einer Tochtergesellschaft von Coinbase Global, Inc., erhalten. Die mehrfache Abruf-Darlehensfazilität steht über einen Zeitraum von zwei Monaten ab dem Wirksamkeitsdatum zur Verfügung.
Die Kreditfazilität stellt die erste bitcoin-gestützte Finanzierung von Riot dar und bietet nicht verwässernde Finanzierung für strategische Initiativen und allgemeine Unternehmenszwecke. Die Darlehenskonditionen beinhalten einen Zinssatz, der als der höhere Wert aus dem Federal Funds Rate oder 3,25 % plus 4,50 % jährlich berechnet wird.
Die Fazilität läuft nach 364 Tagen ab, mit der Möglichkeit einer Verlängerung um weitere 364 Tage, vorbehaltlich der Zustimmung von Coinbase. Das Darlehen wird durch einen Teil von Riots Bitcoin-Beständen besichert.
- Secured $100M in non-dilutive financing
- First bitcoin-backed credit facility providing funding flexibility
- Diversification of financing sources
- Relatively high interest rate (minimum 7.75% annually)
- Short-term nature of the facility (364 days)
- Portion of bitcoin holdings locked as collateral
Under the terms of the Credit Facility, Coinbase will provide a multiple drawdown term loan facility in an aggregate principal amount up to
"Riot has entered into its first bitcoin-backed facility, which provides us with non-dilutive funding at an attractive cost of financing," said Jason Les, CEO of Riot. "This credit facility is a key part of our efforts to diversify sources of financing to support our operations and strategic growth initiatives, with a view towards long-term stockholder value creation."
All amounts borrowed under the Credit Facility will bear interest at an annual rate equal to (a) the greater of (i) the federal funds rate – upper limit1 on the date of the applicable borrowing, and (ii)
About Riot Platforms, Inc.
Riot's (NASDAQ: RIOT) vision is to be the world's leading Bitcoin-driven infrastructure platform.
Our mission is to positively impact the sectors, networks and communities that we touch. We believe that the combination of an innovative spirit and strong community partnership allows the Company to achieve best-in-class execution and create successful outcomes.
Riot is a Bitcoin mining and digital infrastructure company focused on a vertically integrated strategy. The Company has Bitcoin mining operations in central
For more information, visit www.riotplatforms.com.
Cautionary Statement Concerning Forward-Looking Statements
Statements in this press release that are not historical facts are forward-looking statements that reflect management's current expectations, assumptions, and estimates of future performance and economic conditions. Such statements rely on the safe harbor provisions of Section 27A of the Securities Act and Section 21E of the Securities Exchange Act of 1934, as amended. Because such statements are subject to risks and uncertainties, actual results may differ materially from those expressed or implied by such forward-looking statements. Words such as "anticipates," "believes," "plans," "expects," "intends," "will," "potential," "hope," and similar expressions are intended to identify forward-looking statements. These forward-looking statements may include, but are not limited to, statements about uncertainties related to market conditions and the utilization of the Credit Facility on the anticipated terms or at all. Detailed information regarding the factors identified by the Company's management which they believe may cause actual results to differ materially from those expressed or implied by such forward-looking statements in this press release may be found in the Company's filings with the
Investor Contact
Phil McPherson
303-794-2000 ext. 110
IR@Riot.Inc
Media Contact
Alexis Brock
PR@Riot.Inc
1 Represents the upper limit of the federal funds target range established by the Federal Open Market Committee. The federal funds rate – upper limit is
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SOURCE Riot Platforms, Inc.
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