SKN | Riot Platforms Repays $200M Coinbase Credit Facility and Releases Collateral

Key Points

• Riot Platforms repaid the remaining principal and interest on a $200 million credit facility from Coinbase Credit, releasing the Bitcoin miner’s pledged collateral.
• The facility was secured by Riot’s financial assets, including Bitcoin, USDC and cash held with Coinbase Custody Trust Company.
• Riot is simultaneously expanding its data-center business, including a 20-year, 191-megawatt agreement tied to its Rockdale, Texas, campus.

Riot Repays $200M Credit Facility

Bitcoin mining company Riot Platforms has fully repaid a $200 million credit facility from Coinbase Credit, releasing the assets that had been pledged as collateral.

According to a filing with the US Securities and Exchange Commission, Riot completed repayment of the remaining principal and accrued interest on Monday. The company did not incur early termination fees or penalties as a result of the prepayment and termination.

The credit facility had been secured by a pledge of Riot’s financial assets, including Bitcoin, USDC and cash. Those assets were held in custody by Coinbase Custody Trust Company during the term of the facility.

The repayment removes the financing arrangement and returns the pledged assets to Riot’s control.

Data-Center Business Continues to Expand

The debt repayment comes as Riot continues shifting part of its business strategy toward large-scale data-center infrastructure.

In August, Riot secured a 20-year agreement to provide 191 megawatts of capacity from its Rockdale, Texas, campus to a major artificial intelligence company.

The customer was later identified as Anthropic, according to Bloomberg reporting that cited people familiar with the agreement. The deal was reported to be worth approximately $9 billion over its term.

The agreement represents a significant expansion of Riot’s data-center strategy beyond its traditional Bitcoin mining operations, positioning its existing power and infrastructure assets for demand from AI and high-performance computing.

Data Centers Add to Riot Revenue

Riot’s data-center operations have already begun contributing to its financial results.

The company reported $167.2 million in revenue for the first quarter of 2026, with its newly launched data-center business contributing $33.2 million during the period.

The expansion provides Riot with an additional revenue stream while the Bitcoin mining business remains exposed to cryptocurrency prices, network difficulty, mining economics and the broader digital asset market.

The Rockdale agreement also gives Riot a long-term contracted use for a substantial portion of its power capacity, potentially increasing the importance of its infrastructure business relative to its mining operations.

Balance Sheet and Infrastructure Strategy

Repaying the Coinbase facility eliminates the associated financing obligation and releases the Bitcoin, stablecoins and cash that had been pledged against the credit line.

At the same time, Riot’s continued investment in data-center capacity reflects the growing competition among infrastructure operators to serve AI companies with large and reliable power requirements.

The company’s strategy therefore combines its established Bitcoin mining operations with an expanding infrastructure business aimed at customers in the artificial intelligence and high-performance computing sectors.

Outlook

Riot Platforms is reducing its outstanding secured financing while expanding a data-center business that is becoming an increasingly important component of its operations. The combination of released collateral, Bitcoin mining capacity and long-term AI infrastructure contracts could give the company greater flexibility as it develops its dual mining and data-center strategy.