ChainThink reports: Bitcoin mining company Riot Platforms (Nasdaq ticker: RIOT) has announced that it has successfully increased its existing $100 million credit facility with Coinbase Credit, Inc. (a subsidiary of Coinbase Global, Inc.) to $200 million. According to the announcement, the expanded credit facility terms are the same as the existing credit facility, including the applicable interest rate. Riot plans to use the funds for key strategic initiatives and general corporate purposes. All borrowings will be interest-bearing at an annual rate equal to the federal funds rate ceiling (or 3.25%, whichever is higher) plus 4.50%. The credit facility will mature 364 days after the effective date, but the company may request an extension of the maturity date by another 364 days, subject to Coinbase's approval. The borrowings will be secured by a portion of the company's bitcoin holdings.