Riot Platforms Don Double Di Bitcoin-Backed Credit Facility Wit Coinbase To $200 Million To Boost Mining Expansion

Riot Platforms, one big Bitcoin mining company wey base for USA wey dey trade for NASDAQ (RIOT), don expand their secured credit facility with Coinbase Credit from $100 million to $200 million. Dem use plenty of their Bitcoin holdings as collateral. This partnership with Coinbase, which be one major crypto exchange, go help Riot improve their liquidity and financial flexibility wey go support dem Bitcoin mining business especially as crypto market dey unstable. The extra money go be used to buy new mining equipment and increase power capacity, mainly with renewable energy. CEO Jason Les talk sey this move dey diversify Riot financing options and e dey reduce capital costs, with the goal to bring long-term value to shareholders. Riot talk say dem get 19,223 BTC now, dem mine 1,530 BTC for Q1 2025, and dem collect Rhodium mining assets, wey add 125 MW power. With current hashrate of 33.7 EH/s, Riot operational growth dey help Bitcoin network security and dey increase confidence among institutional investors. This development fit well with the growing capital inflows into US spot Bitcoin ETFs and the increased institutional adoption of digital assets.