Riot may reclaim up to 1,547 BTC in pledged collateral as Bitcoin rebounds

A rebound in Bitcoin’s price means U.S. crypto mining company Riot Platforms may be able to recover as much as 1,547 BTC from additional collateral it posted during a Coinbase loan process, according to an analysis. Riot pledged 3,977 BTC at the start of the year to secure a $200 million loan, then deposited an additional 1,825 BTC in February as Bitcoin fell. That pushed the total pledged collateral to more than 5,800 BTC. With BTC recently rebounding to around $78,000, the collateral value has risen and the loan-to-value ratio has fallen to about 44%. Based on the applicable loan terms, an estimated 1,159 BTC to 1,547 BTC has reached a level where it could be returned. It was not confirmed whether Riot has actually requested the collateral back, and the final decision and amount would depend on Coinbase’s calculation.