Riot Platforms extends Coinbase credit facility

Riot Platforms has amended its $200 million credit facility with Coinbase, switching from a floating to a fixed interest rate for greater cost predictability. The loan's maturity has also been extended by 364 days, with an option for a further year's extension. This move comes as Riot continues to reduce its Bitcoin holdings, which have fallen significantly since the start of the year. The company's pivot towards artificial intelligence and high-performance computing infrastructure is a key strategic focus, though the shrinking Bitcoin treasury raises concerns about potential collateral top-ups if prices decline.