Riot Platforms Announces $100 Million Credit Facility with Coinbase
Summary
Riot intends to use proceeds from the Credit Facility to pursue key strategic initiatives and for general corporate purposes. "This credit facility is a key part of our efforts to diversify sources of financing to support our operations and strategic growth initiatives, with a view towards long-term stockholder value creation. The amount borrowed under the Credit Facility will be secured by a portion of the Companys total bitcoin holdings.Riots (NASDAQ: RIOT) vision is to be the worlds leading Bitcoin-driven infrastructure platform.Our mission is to positively impact the sectors, networks and communities that we touch. The Company has Bitcoin mining operations in central Texas and Kentucky, and electrical switchgear engineering and fabrication operations in Denver, Colorado and Houston, Texas.Statements in this press release that are not historical facts are forward-looking statements that reflect managements current expectations, assumptions, and estimates of future performance and economic conditions. All forward-looking statements included in this press release are made only as of the date of this press release, and the Company disclaims any intention or obligation to update or revise any such forward-looking statements to reflect events or circumstances that subsequently occur, or of which the Company hereafter becomes aware, except as required by law.