Riot Platforms has used a portion of its Bitcoin treasury to secure a $100 million loan from Coinbase's lending arm.

Riot Platforms has secured a $100 million bitcoin-backed loan from Coinbase Credit, accessing non-dilutive capital to fund ...

The company’s investment is a nod to Charlotte’s position as a growing financial and tech hub, officials said.

Shares of Riot Platforms and Coinbase Global rose during Wednesday's trading after Riot announced that it entered into a $100 million credit facility with Coinbase.

Short interest in Coinbase Global Inc (NASDAQ:COIN) decreased during the last reporting period, falling from 10.51M to 9.42M. This put 4.54% of the company's publicly available shares short.