Riot Platforms Repays $200M Coinbase Credit Facility, Frees BTC Collateral

Bitcoin miner Riot Platforms has fully repaid a $200 million credit facility from Coinbase Credit, releasing its pledged collateral in the process. According to a Friday filing with the U.S. Securities and Exchange Commission, Riot completed payment of the remaining principal and interest on Monday, September 27, 2026. The facility had been backed by Riot's financial assets, including Bitcoin, USDC, and cash, all held in custody by Coinbase Custody Trust Company. No early termination fees or penalties were incurred as part of the prepayment.

The deleveraging comes as Riot continues to aggressively scale its high-performance data-center operations. In August, the company signed a 20-year agreement to supply 191 megawatts of capacity from its Rockdale, Texas campus to a leading frontier AI firm. Bloomberg later identified that customer as Anthropic, with the deal reportedly valued at roughly $9 billion. Riot's pivot toward AI infrastructure is already contributing meaningfully to its top line: the company posted $167.2 million in Q1 2026 revenue, of which $33.2 million came from its newly launched data-center segment.

By retiring the Coinbase facility, Riot frees up its BTC and stablecoin reserves from encumbrance, strengthening its balance sheet at a time when capital flexibility is critical for funding compute-intensive AI hosting buildouts. The move signals management's confidence in operating cash flow as the company transitions from a pure-play Bitcoin miner into a diversified power-and-infrastructure provider.

The article was originally published by Cointelegraph and reviewed by staff editor Bryan O'Shea.