- The riot platform has tapped Bitcoin Holding to ensure credit capabilities and expand.
- Bitcoin mining in the US helps in securing networks amid mainstream recruitment by institutional investors.
Riot Platforms, Inc. (NASDAQ: RIOT) has announced that Miner, a US-based Bitcoin (BTC) miner, has increased its existing $100 million credit facility to $200 million with Coinbase Credit. The riot platform has secured its credit facility through some of its Bitcoin retention. This is held as collateral by Coinbase Credit.
Bitcoin Miners aims to use the funds to enable major strategic initiatives that could include the purchase of new BTC miners, and increase power output through renewable energy sources.
“We are pleased that Riot is a demonstration of our efforts to use Coinbase to increase credit facilities, diversify funding sources and help shareholders create long-term value,” said Jason Les, CEO of Riot Platforms.
Riot Platform and Bitcoin Strategy
As reported by Coinpedia in the past, Riot Platforms was a major buyer of Bitcoin in addition to mining BTC. Earlier this month, Riot Platforms released its first quarter 2025 financial results. This revealed that the company has 19,223 Bitcoins after adding 1,530 coins in the quarter.
In the first quarter, Riot Platforms announced the acquisition of Rhodium’s mining operations, which feature 125 MW of power. As a result, the riot platform increased its Bitcoin mining hashrate to 33.7 EH/s by the end of the first quarter. The company’s increased support for the Bitcoin network played a key role in the stabilization process, significantly preventing 51% attacks and thus attracting more institutional investors. Additionally, cash inflows to Bitcoin investment products have increased significantly in recent past, led by the US Spot BTC ETF.