Riot Platforms, a prominent cryptocurrency miner in India, recently secured a $100 million credit facility from Coinbase using its substantial Bitcoin holdings as collateral. This move is part of Riot’s strategic expansion plans and general corporate operations. The loan, which is Riot’s first Bitcoin-backed facility, will mature in a year but can be extended for another year. The interest rate on the loan is set at a minimum of 9%. Riot Platforms currently owns the third-largest corporate Bitcoin treasury globally, with 19,223 BTC valued at around $1.8 billion. The company’s stock, traded as RIOT on the Nasdaq exchange, surged over 8% on the day of the announcement. However, like other Bitcoin mining stocks, RIOT has faced challenges due to the global trade war and cryptocurrency price fluctuations. Despite this, Riot Platforms had a successful year in 2024, generating significant revenue and earnings. The company’s next earnings call is scheduled for May 1, covering the quarter ending March 31. The correlation between mining stocks and Bitcoin’s price has been closely monitored, showing a strong relationship between the two. As of now, Bitcoin is trading around $93,000, down 15% from its peak, while RIOT shares have declined by over 40% during the same period. Riot Platforms continues to adapt its business strategy to navigate the volatile market conditions and capitalize on its strong financial performance.<\/p>\n","protected":false},"excerpt":{"rendered":"
Riot Platforms, a prominent cryptocurrency miner in India, recently secured a $100 million credit facility from Coinbase using its substantial Bitcoin holdings as collateral. This move is part of Riot’s strategic expansion plans and general corporate operations. The loan, which is Riot’s first Bitcoin-backed facility, will mature in a year but can be extended for […]<\/p>\n","protected":false},"author":0,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"om_disable_all_campaigns":false,"_monsterinsights_skip_tracking":false,"footnotes":""},"categories":[25],"tags":[],"aioseo_notices":[],"featured_image_urls":{"full":"","thumbnail":"","medium":"","medium_large":"","large":"","1536x1536":"","2048x2048":""},"author_info":{"display_name":"","author_link":"https:\/\/vanillanews.com\/index.php\/author\/"},"category_info":"JUST IN<\/a>","tag_info":"JUST IN","comment_count":"0","_links":{"self":[{"href":"https:\/\/vanillanews.com\/index.php\/wp-json\/wp\/v2\/posts\/107184"}],"collection":[{"href":"https:\/\/vanillanews.com\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/vanillanews.com\/index.php\/wp-json\/wp\/v2\/types\/post"}],"replies":[{"embeddable":true,"href":"https:\/\/vanillanews.com\/index.php\/wp-json\/wp\/v2\/comments?post=107184"}],"version-history":[{"count":0,"href":"https:\/\/vanillanews.com\/index.php\/wp-json\/wp\/v2\/posts\/107184\/revisions"}],"wp:attachment":[{"href":"https:\/\/vanillanews.com\/index.php\/wp-json\/wp\/v2\/media?parent=107184"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/vanillanews.com\/index.php\/wp-json\/wp\/v2\/categories?post=107184"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/vanillanews.com\/index.php\/wp-json\/wp\/v2\/tags?post=107184"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}