TLDRRiot Platforms fully repaid and closed its $200 million Bitcoin-backed credit line with Coinbase Credit, settling all principal and interest through Sept. 21.The company disclosed the repayment in a Form 8-K filed with the SEC on Sept. 25.Coinbase’s claims on the pledged assets were released. As of June 30, Riot had 5,821 BTC pledged, about 51% of its Bitcoin reserves.No early-termination fee applied to the repayment.The loan carried a fixed 6.15% annual interest rate after an April 2026 amendment.Riot Platforms, a Bitcoin mining company listed on the Nasdaq, has fully repaid and closed its $200 million credit line with Coinbase Credit. The loan was backed by Bitcoin and other assets.The company disclosed the move in a Form 8-K filed with the U.S. Securities and Exchange Commission on Sept. 25. Riot said it voluntarily prepaid the borrowing.How the Coinbase Loan WorkedThe borrowing began as a $100 million facility on April 22, 2025. An amendment on May 20, 2025, doubled it to $200 million.Riot had drawn the full amount by the first quarter of 2026. The company said the money was meant for strategic initiatives and general corporate purposes, including data center spending.Coinbase Credit acted as lender, collateral agent and administrative agent. The loan was backed by assets held with Coinbase Custody Trust Company, including Bitcoin, USDC and cash.At first, the loan charged interest tied to the federal funds rate plus 4.5 percentage points. Riot reported a rate of 8.3% as of March 31.An amendment signed on April 21, 2026, extended the maturity date to April 20, 2027. It also set a fixed annual interest rate of 6.15%.At that rate, a $200 million balance held for a full year would cost about $12.3 million in interest. That figure is based on the loan terms, not the amount Riot actually paid.Riot’s Bitcoin Holdings and Recent ResultsAs of June 30, Riot held 11,380 BTC. Of that total, 5,821 BTC was pledged as collateral, about 51% of its Bitcoin reserves.At the June 30 price of $58,527 per coin, the pledged Bitcoin was worth about $340.7 million. Riot’s full Bitcoin balance was valued at about $666 million.The company’s August earnings release listed $548.9 million in cash. That included $77.5 million in restricted cash.In the first quarter, Riot reported revenue of $167.2 million. It sold 3,778 BTC for $289.5 million and produced 1,473 BTC.For the second quarter, total revenue rose 14% from a year earlier to $174.2 million. Riot produced 1,587 BTC and reported $23.2 million in data center revenue.Other miners have also changed their Coinbase borrowing this year. Hut 8 replaced its Coinbase financing with a $200 million FalconX loan in May. MARA Holdings secured $600 million in new Bitcoin-backed loans in August, including a $450 million Coinbase facility.The filing said no early-termination fee applied to Riot’s repayment. That is because Riot repaid after the four-month anniversary of the agreement’s original maturity date.With the payment, Coinbase Credit received the remaining principal and all unpaid interest through Sept. 21. Coinbase’s claims on the pledged assets were released, and its commitment to make further loans ended.The post Bitcoin Miner Riot Platforms Pays Off Coinbase Loan, Frees 5,821 BTC Collateral appeared first on Blockonomi.