Riot Platforms, a publicly listed Bitcoin mining company, has secured a $100 million credit facility from Coinbase's lending arm, Coinbase Credit. The facility is backed by a portion of Riot's Bitcoin holdings and aims to support key strategic initiatives. Riot CEO Jason Les highlighted that this Bitcoin-backed funding offers non-dilutive financing at an attractive cost, helping diversify their financing sources. Riot is exploring partnerships in artificial intelligence and high-performance computing to generate sustainable revenue streams. The agreement comes amid a challenging market environment for Bitcoin mining companies, as shares of Riot have fallen over 36% in the past year but saw a 5.34% increase in a recent trading session. Riot holds 19,223 BTC, valued at approximately $1.8 billion at current prices. Coinbase's financing services have gained traction among institutional clients, increasing demand for financing in the crypto sector.

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