Bitcoin miner Riot Platforms (RIOT) converted its $200 million loan agreement with Coinbase from a variable interest rate to a fixed interest rate, increasing cost predictability. According to CoinDesk, the maturity was also extended by 364 days, with an option to extend for another year, subject to lender approval. There are no changes to the loan amount or collateral structure (Bitcoin, USDC, and cash deposited with Coinbase Custody). The media evaluated, "Although Riot secured a fixed interest rate and extended maturity, it appears to have little room to respond to price declines due to reduced Bitcoin holdings and loan-to-value (LTV) triggers." Riot has shifted its business direction towards artificial intelligence (AI) and high-performance computing (HPC) infrastructure, while continuously reducing its Bitcoin holdings. Riot's current Bitcoin holdings have decreased from 19,368 BTC at the beginning of the year to 15,680 BTC.
