Riot Platforms has amended its $200 million credit facility with Coinbase, replacing a floating interest rate with a fixed rate and extending the loan maturity by 364 days.
The move provides cost predictability as Riot shifts focus toward artificial intelligence and high-performance computing infrastructure, while maintaining the same loan size and collateral structure.
Riot’s bitcoin holdings have declined to 15,680 BTC from 19,368 BTC at the start of the year, reducing its buffer against loan-to-value triggers tied to the facility.
The credit line is backed by bitcoin, USDC, and cash held with Coinbase Custody, but operates under a tiered loan-to-value framework that requires collateral top-ups if the ratio exceeds 70% and liquidation at 80%.
This structure increases risk if bitcoin prices fall further, potentially forcing Riot to sell more of its holdings to meet collateral requirements while funding its AI and HPC expansion.
Riot shares fell about 9% to below $17 following the update, ahead of its first-quarter earnings report scheduled for April 30.
At the time of reporting, Bitcoin price was $76,428.14.