Riot Platforms Secures $100 Million Bitcoin-Backed Credit Facility With Coinbase for Non-Dilutive Funding

Riot Platforms has secured a $100 million credit facility from Coinbase, marking the company’s first bitcoin-backed financing arrangement. The credit line is backed by Bitcoin (BTC) collateral and is intended to provide Riot with non-dilutive funding at an attractive cost of financing. According to Riot CEO Jason Les, this facility is a key component of the company’s ongoing expansion strategy. The funding from Coinbase’s credit arm will support Riot’s strategic growth initiatives. This is an AI-generated article powered by DeepNewz, curated by The Defiant. For more information, including article sources, visit DeepNewz . To continue reading this as well as other DeFi and Web3 news, visit us at thedefiant.io

Source: The Defiant