Riot Platforms clears $200 million Coinbase credit line, freeing bitcoin held as security
The miner paid off the loan early without penalty, even as its high-performance computing arm lands multibillion-dollar contracts.
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Riot Platforms has paid back a $200 million borrowing from Coinbase Credit ahead of schedule, freeing up the assets it had pledged to secure the loan. The bitcoin miner settled the outstanding principal and interest on Monday, according to a Friday filing with the US Securities and Exchange Commission.
The facility, struck with Coinbase's lending arm, gave Riot access to $200 million against a pool of pledged assets — bitcoin, the stablecoin USDC and cash. Those funds sat in custody with Coinbase Custody Trust Company for the duration of the arrangement, and are released back to Riot now that the debt is extinguished.
No early termination fees or penalties apply to the payoff or the unwinding of the facility, the company disclosed.
Pivot to AI computing
Riding through the debt repayment in good standing comes at a moment when Riot has been repositioning itself as a supplier of computing power for artificial intelligence workloads, not just a miner of bitcoin. Cointelegraph reported in August that Riot had signed a 20-year contract to deliver 191 megawatts of capacity from its Rockdale, Texas campus to what the company described only as a leading frontier AI developer.
The counterparty turned out to be Anthropic, and the contract was worth roughly $9 billion, Bloomberg reported at the time, citing people familiar with the matter.
That new business is already visible in Riot's financials. In May, Cointelegraph reported that Riot booked $167.2 million of revenue in the first quarter of 2026, with $33.2 million of that coming from the data center unit it launched recently.
With its AI infrastructure contracts running into the billions and its credit line now settled, Riot enters the final stretch of the year holding its mined bitcoin outright and carrying one fewer liability on the balance sheet.
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