Riot and Coinbase Revise Terms of $200 Million Bitcoin-Backed Credit Agreement

BroadChain News, April 28 - Bitcoin mining company Riot Platforms announced that it has reached a revised agreement with Coinbase for a $200 million Bitcoin-backed credit facility. The new agreement, signed on April 21, can be extended for one year. The revision changes the original floating interest rate tied to the U.S. federal funds rate to a fixed annual rate and introduces a two-consecutive-day trigger mechanism to reduce the impact of short-term Bitcoin price fluctuations on margin calls and forced deleveraging.

According to documents, Riot sold 3,778 Bitcoins in the first quarter of 2026, generating approximately $289.5 million in revenue; as of March 31, its restricted Bitcoin collateral increased to 5,802.