Riot Platforms secures $100M ‘Bitcoin-backed’ loan from Coinbase
Riot Platforms has used its massive Bitcoin stockpile as collateral to secure a $100 million credit facility from Coinbase as the cryptocurrency miner eyes continued expansion. The $100 million loan from Coinbase’s credit arm marks Riot’s “first Bitcoin-backed facility,” CEO Jason Les said in an April 23 statement.Les said the credit line will be used to fund general corporate operations and support the company’s “s…
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