Riot Platforms has secured a credit facility of up to $100 million from Coinbase Credit, utilizing a portion of its Bitcoin holdings for this loan. The funding will aid in pursuing key strategic initiatives as part of Riot's efforts to diversify its financing sources. Riot CEO Jason Les emphasized that this bitcoin-backed facility offers non-dilutive funding at a favorable cost. Furthermore, Riot is exploring partnerships in artificial intelligence and high-performance computing to enhance its revenue streams. The company ranks third in publicly traded Bitcoin holders, with 19,223 BTC valued at nearly $1.8 billion. Despite a recent increase in share price, Riot's stock has dropped over 36% in the past year. Coinbase continues to see growing demand for its financing options among institutional clients, further establishing its importance in the crypto ecosystem.

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