Riot Platforms Terminates Coinbase Credit Facility After Full Prepayment

What Happened Riot Platforms, Inc. announced it completed a full voluntary prepayment of all outstanding principal and accrued interest under its Second Amended and Restated Credit Agreement with Coinbase Credit, Inc., and terminated the Credit Agreement effective September 21, 2026. The Credit Agreement (dated April 21, 2026) provided a multiple draw-down secured term loan facility of up to $200 million secured by a pledge of the Company’s financial assets held in Coinbase Custody (including bitcoin, USDC, and cash).

Key Details

• Prepayment and termination date: September 21, 2026.
• Lender/agent: Coinbase Credit, Inc. (lender, collateral agent, administrative agent).
• Facility size (original): up to $200 million multiple draw-down secured term loan.
• Collateral: pledge of Riot’s financial assets (bitcoin, USDC, cash) held by Coinbase Custody.
• No early termination fee or penalty was incurred because the applicable Day Count Fraction was zero.
• As a result of the prepayment, the lender’s commitment terminated and the security interests granted under the collateral documents were released.

Why It Matters This filing notifies investors that Riot has eliminated the outstanding borrowings and ended its borrowing arrangement with Coinbase Credit, removing the related debt obligation and the lender’s claim on pledged crypto assets. That reduces the company’s financing availability under this facility but also restores the unencumbered status of assets that had been used as collateral. The company paid all principal and accrued interest and incurred no early termination fees, per the filing.