Riot Platforms repays $200M Coinbase facility, expands AI data center business
In brief
- Riot repaid $200M Coinbase Credit facility Monday with no early termination fees or penalties
- Collateral including Bitcoin, USDC, and cash released from Coinbase Custody
- 20-year deal supplies 191 megawatts from Rockdale, Texas to Anthropic worth ~$9B
Collateral Release and Debt Repayment
Riot Platforms repaid the $200 million credit facility this week, clearing a significant liability from its balance sheet. The facility had been secured by a pledge of Riot's financial assets, including Bitcoin, USDC and cash, which was held in custody of Coinbase Custody Trust Company. Riot finished paying the remaining principal and interest on Monday, and no early termination fees or penalties were incurred in connection with the prepayment.
The debt payoff signals improved liquidity for the miner, allowing it to redeploy capital elsewhere. This timing aligns with Riot's pivot into higher-margin data-center operations.
AI Data Center Expansion
Riot Platforms secured a 20-year agreement to supply 191 megawatts of capacity from its Rockdale, Texas campus to a leading frontier AI company. The customer was Anthropic, the AI safety firm backed by Google and others. The deal was valued at about $9 billion, Bloomberg subsequently reported.
The agreement reflects a broader industry shift—Bitcoin miners are increasingly leasing excess power capacity to AI infrastructure operators. For Riot, the long-term contract provides predictable revenue streams that diversify beyond mining rewards.
Financial Performance
Riot Platforms posted $167.2 million in revenue for the first quarter of 2026, with its newly launched data center business contributing $33.2 million to that total. The data-center segment now represents roughly one-fifth of total revenue, underscoring the strategic importance of the Anthropic deal and similar capacity agreements going forward.
