Riot Platforms has voluntarily repaid its $200 million Coinbase Credit facility ahead of its April 2027 maturity, satisfying the outstanding principal and accrued interest and terminating the agreement. According to a Form 8-K filed with the U.S. Securities and Exchange Commission on September 25, the repayment was completed on September 21 and incurred no early termination fee. The facility had been secured by financial assets including Bitcoin, USDC, and cash held with Coinbase Custody.
The credit arrangement began as a $100 million line in 2025 before being expanded to $200 million. By 2026, Riot had fully drawn the facility. An April amendment extended its maturity to April 20, 2027 and replaced the previous floating borrowing cost with a 6.15% fixed annual interest rate. At June 30, Riot held 11,380 BTC, of which 5,821 BTC were pledged against the Coinbase facility, representing slightly more than half of the company's total Bitcoin holdings at quarter-end. At a reported June 30 Bitcoin price of $58,527, Riot valued its entire BTC position at approximately $666 million. The September 8-K does not disclose how many Bitcoin were pledged immediately before repayment, but it does establish that the lender's security interests were released once the loan and interest were repaid.
The early repayment removes an annualized interest burden of roughly $12.3 million based on a fully outstanding $200 million balance at the 6.15% fixed rate. Riot also gave up the borrowing capacity available through the Coinbase facility rather than keeping it as an unused liquidity backstop. At June 30, Riot reported approximately $1.2 billion of total liquidity, consisting of roughly $666 million in Bitcoin and $549 million in cash, including restricted amounts.
Riot's Bitcoin treasury is increasingly being used as a capital source for its expanding data center business. In the first half of 2026, Riot sold 9,665 BTC for $732.46 million. The company also funded its $96 million purchase of the 200-acre Rockdale site entirely through the sale of approximately 1,080 BTC in January. That land transaction accompanied Riot's first data center lease with AMD. In August, a Riot subsidiary entered into a $573 million senior secured delayed-draw facility with lenders and Morgan Stanley Senior Funding as administrative agent. The financing is intended for a 191 MW critical IT data center project at Rockdale, with an initial 20-year lease expected to generate approximately $9.1 billion in base rent. The first 96 MW are expected to be delivered in December 2027, with the remaining capacity targeted for June 2028.
The repayment signals a shift in how Riot manages its balance sheet. By retiring the Coinbase debt, Riot removed a contractual encumbrance on its Bitcoin holdings and moved financing closer to individual infrastructure projects. The company's data center business generated $23.2 million in revenue in the second quarter, while Bitcoin mining generated $113.7 million, reflecting the growing role of non-mining infrastructure. The development also arrives amid broader institutional attention, with Stanley Druckenmiller opening positions in Riot Platforms, Hut 8, and Bitdeer.
