Bitcoin mining firm Riot Platforms secured a $100 million BTC-backed credit line from Coinbase!
— Backed by 19,223 BTC (~$1.8B)
— Funds will fuel growth and expansion
— Loan term: 1 year + possible extension
— Interest: Fed rate + 4.5% (~9%)
Riot holds the 3rd largest corporate BTC treasury and just keeps stacking!
Their stock (RIOT) jumped 8% on the news despite a tough year so far