Riot Platforms enters $100M bitcoin-collateralized credit facility with Coinbase Credit

Riot Platforms, Inc.

Secured term loan up to $100M, collateralized by bitcoin, USDC, and cash held at Coinbase Custody Trust.
Interest rate is greater of fed funds upper limit or 3.25% plus 4.50% margin; 4.75% during second deleveraging.
Maturity 364 days from April 22, 2025, extendable by 364 days with lender consent; upfront fee 1% ($1M).
Voluntary prepayment min $5M with early termination fees; mandatory prepayment on change of control or LTV breach.
Loan available in up to three drawdowns within two months; proceeds for general corporate purposes.

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