North American publicly traded mining company Riot receives $100 million credit line from Coinbase

BlockBeats News, April 23, according to Coindesk, Bitcoin (BTC) mining firm Riot Blockchain (RIOT) has entered a $100 million credit agreement with Coinbase's prime brokerage using Bitcoin as collateral to secure short-term funding for its continued expansion. The publicly-traded mining company stated in a press release that it will draw down on this facility over the next two months. This transaction has provided Riot with a line of credit without the need to issue new shares. Riot currently holds 19,223 bitcoins, valued at over $1.8 billion.