Non-recourse project debt at 80-90% loan-to-cost for data center builds, including frontier AI lab build
Company: Riot
The claim, verbatim
Riot funds initial data center builds with Bitcoin sales and cash, then adds non-recourse project debt at roughly 80% to 90% loan-to-cost, with financing anticipated for its frontier AI lab build, to scale the portfolio while limiting equity issuance.
Source (primary)
Riot Platforms (RIOT) Shares Slid, Is The 56% Undervalued View Still Credible? - Simply Wall Street (-, news_article)
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Quote: “uses Bitcoin sales and cash for initial builds, then adds non recourse project debt at around 80% to 90% loan to cost, as seen in the expected US$180m term loan on the first 25 MW of AMD capacity and the anticipated financing on the frontier AI lab build”
How we checked this
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Additional evidence
confirms Riot Platforms (RIOT) Shares Slid, Is The 56% Undervalued View Still Credible? - Simply Wall Street
Quote: “uses Bitcoin sales and cash for initial builds, then adds non recourse project debt at around 80% to 90% loan to cost, as seen in the expected US$180m term loan on the first 25 MW of AMD capacity and the anticipated financing on the frontier AI lab build”