Riot Platforms secured a 100 million USD credit facility from Coinbase, with an annual interest rate of at least 9% and a term of one year. This is Riot’s first Bitcoin-backed loan, aimed at enhancing its corporate operations and strategies.
Following the announcement, Riot’s shares surged over 8% on April 23. Despite challenges earlier this year, the company reported record earnings and plans to hold an earnings call on May 1 to discuss its performance.
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