Riot Platforms (RIOT) said Tuesday it has upsized its credit facility with Coinbase (COIN) unit Coinbase Credit to $200 million from $100 million.
The expanded credit facility keeps the same terms as the original agreement, including the applicable interest rate, Riot said, adding that this facility is set to mature in 364 days but can be extended for another 364 days if Coinbase approves.
The loan is backed by a portion of Riot's Bitcoin assets and the company intends to use the proceeds for strategic projects and general corporate purposes, Riot said.
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