Riot Platforms, Inc. - Credit Agreement


Parties: Riot Platforms, Inc. (borrower) and Coinbase Credit, Inc. (lender, collateral agent, administrative agent)

Key Details:

Loan Amount: Up to $100 million, with multiple drawdowns available within two months from the agreement date.

Interest Rate: Federal funds rate (minimum 3.25%) + 4.50% margin.

Fees: 1.00% upfront fee ($1 million) for the first drawdown.

Maturity: 364 days, with an option for a 364-day extension (subject to lender approval).

Security: Secured by financial assets like bitcoin, USDC, and cash held in a segregated account at Coinbase Custody Trust Company.

Prepayment: Allowed with a minimum of $5 million, with early termination fees subject to exceptions.

Events of Default: Includes failure to pay, change of control, and breach of loan-to-value thresholds.