AI | Bitcoin Miner, Riot Platforms, Frees $200 million in Crypto-Backed Debt as AI Strategy Accelerates

Riot Platforms has repaid a $200 million credit facility from Coinbase Credit, releasing bitcoin, USDC and cash pledged as collateral, as the U.S. Bitcoin miner continues shifting its infrastructure strategy toward artificial intelligence and high-performance computing.

The facility was secured against Riot’s financial assets, including bitcoin.

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As of June 30 2026, the company had 5,821 bitcoin pledged as collateral, representing about half of its 11,380-bitcoin holdings. Riot’s repayment ends the facility and releases the lender’s security interests without an early termination fee.

The move comes as Riot increasingly positions its power infrastructure for AI rather than relying solely on Bitcoin mining. The company has secured long-term data-center agreements at its Rockdale, Texas, campus, including a 191-megawatt Anthropic deal valued at $9.1 billion over its initial 20-year term.

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Riot now describes its sites as power infrastructure for advanced computing with 2 gigawatts of approved capacity across its portfolio. Its strategy is to convert existing mining infrastructure and power connections into data centers serving AI and high-performance computing demand.