Key Highlights

● Facility terminated: Riot repaid in full and terminated its secured term-loan Facility with Coinbase Credit on September 21, 2026, retiring a line that allowed up to $200 million in borrowing.

● No penalty: Because the payoff occurred more than four months after the loan's original Maturity date, the day-count fraction for any early-termination fee came out to zero, so no penalties were incurred.

● Collateral released: The facility had been secured by pledged bitcoin, USDC and cash held at Coinbase Custody, and those security interests were released upon repayment.

● Undisclosed figures: The 8-K does not state the outstanding principal balance at repayment or Riot's current cash and digital-asset holdings following the payoff.

Riot Platforms (NASDAQ:RIOT) disclosed in an 8-K filed September 25 that it repaid in full and terminated its secured term-loan facility with Coinbase Credit, Inc. on September 21, 2026, retiring a credit line that had allowed for up to $200 million in borrowing and that was secured by pledged bitcoin, USDC and cash held at Coinbase Custody.

The Loan Being Retired

The facility stemmed from a second amended and restated credit agreement dated April 21, 2026 between Riot and Coinbase Credit. Under Item 1.02, Termination of a Material Definitive Agreement, Riot said it paid the full outstanding principal balance along with all accrued interest through the prepayment date, satisfying every obligation under the agreement. As a result, Coinbase's commitment to provide any further funding under the facility terminated, and the security interests Riot had granted over its pledged digital and cash Assets were released.

Item 1.02 is the specific disclosure category the SEC requires when a company ends a previously disclosed material contract outside its ordinary course of business, whether through expiration, mutual agreement or, as here, early repayment. Filing under this item signals that Riot considered the original Coinbase facility significant enough to have been separately disclosed when it was first signed and later amended, and that its termination is likewise being treated as a reportable event rather than a routine administrative matter.

No Penalty for Paying Early

The filing notes a specific mechanical detail about the payoff: because it occurred more than four months after the loan's original maturity date, the day-count fraction used to calculate any early-termination fee came out to zero. As a result, Riot said no early termination fees or penalties were incurred in connection with the prepayment, a detail that matters because credit facilities of this kind often carry prepayment penalties intended to compensate the lender for interest income lost when a loan is retired ahead of schedule.

Riot Platforms is a Nasdaq-listed company that develops and operates Bitcoin mining infrastructure; the Collateral securing the terminated facility, bitcoin, USDC and cash held at Coinbase Custody, reflects the digital-asset-heavy Balance Sheet typical of companies in that business. The filing does not disclose the outstanding principal balance at the time of repayment, meaning the exact size of the payoff relative to the original $200 million facility ceiling is not specified.

Facilities like this one, where a bitcoin miner borrows against its own digital-asset holdings rather than issuing new Equity or unsecured debt, let a company raise cash without selling bitcoin outright or diluting shareholders, at the cost of pledging that collateral and accepting the facility's covenants for as long as it remains outstanding. Ending the arrangement removes those covenants and frees the pledged bitcoin, USDC and cash for other uses, though this filing does not say what, if anything, Riot intends to do with the newly unencumbered collateral.

What the Filing Does Not Say

The 8-K does not state why Riot chose to repay and terminate the facility at this time, whether the company plans to replace it with alternative financing, or how much of its pledged bitcoin and cash collateral has now been freed up for other uses following the release of Coinbase's security interest. It also does not disclose Riot's current cash and digital-asset holdings following the repayment, so the transaction's effect on the company's overall Liquidity position is not quantified in this filing.

Tracking the Liquidity Aftermath

Because the facility is now fully terminated, investors should watch subsequent Riot filings, including its next quarterly report, for confirmation of how the payoff affected the company's cash and digital-asset balances, and for any disclosure of new financing arrangements that might replace the terminated Coinbase Credit facility. No other lender relationship or replacement facility is mentioned in this 8-K.