Bin Somers's questions to Riot Platforms Inc (RIOT) leadership • Q1 2025
Question
Bin Somers of BTIG asked about the timing and rationale for the recent $100 million credit facility with Coinbase and the company's forward-looking capital strategy. He also inquired about Riot's outlook on global hash rate trends given the current tariff environment.
Answer
EVP & Head of Corporate Development Jason Chung explained that the Coinbase facility is one of several financing levers being used to minimize shareholder dilution amidst weak market valuations, alongside limited ATM usage and selling monthly Bitcoin production. CEO Jason Les added that tariffs may slow global hash rate growth, but Riot is well-positioned due to its long-term U.S.-based miner purchase agreement with MicroBT, which insulates them from these specific tariffs.