Riot Platforms, a mining company, has paid off its $200 million loan to Coinbase ahead of schedule, terminating its Bitcoin-backed credit line. This loan was secured by 5,821 BTC, which accounted for nearly 51% of its crypto reserves at the end of June, valued at approximately $340.7 million. Originally, the loan, with an interest rate of 6.15% per annum, was set to remain active until April 2027, but Riot has settled it without incurring any early repayment penalties.
In addition to this financial move, Riot is expanding its data center operations for artificial intelligence. In August, the company entered into a 20-year agreement to secure 191 MW of computing power.