Riot Platforms amends BTC-backed loan terms, switches to fixed rate

Bitcoin mining company Riot Platforms (RIOT) has amended its Bitcoin-backed loan agreement with Coinbase, The Energy Mag reported. The company has switched from a variable interest rate tied to the federal funds rate to a fixed rate to mitigate risks from interest rate fluctuations. The specific interest rate was not disclosed. Additionally, the agreement now includes a new provision for margin calls, which will be triggered if the collateral value falls below the required standard for two consecutive days. In the first quarter, Riot Platforms sold 3,778 BTC, raising approximately $289.5 million.