Riot Platforms Secures $100 Million Credit Line from Coinbase

Riot Platforms, a major Bitcoin mining company, has secured a $100 million credit line from Coinbase, utilizing Bitcoin as collateral. This innovative financing arrangement bolsters Riot’s operational flexibility by providing liquidity without selling its valuable Bitcoin holdings. Coinbase, known for its robust institutional-grade services, facilitates such investments through established channels. 2022 saw Bitfarms utilize a similar loan backed by Bitcoin to manage financial risk. 💰