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Major players in the crypto and financial markets are making bold moves: Riot Platforms secures a $100 million credit line from Coinbase, the Trump sons’ mining venture faces regulatory scrutiny, and Tesla holds onto over $1 billion in Bitcoin despite disappointing earnings. Meanwhile, gold and Bitcoin are surging as investors flee the US dollar, and spot Bitcoin ETFs are seeing record inflows. This press review unpacks the latest power plays, market shifts, and the evolving strategies of industry giants.
Riot Platforms Secures $100 Million Credit Facility from Coinbase
Riot Platforms, a publicly listed Bitcoin mining company, has established a $100 million credit facility through Coinbase Credit, the lending arm of the U.S.-based crypto exchange. The facility is secured by a portion of Riot’s Bitcoin holdings and is intended to support key strategic initiatives. Riot CEO Jason Les stated, “Riot has entered into its first bitcoin-backed facility, which provides us with non-dilutive funding at an attractive cost of financing. This credit facility is a key part of our efforts to diversify sources of financing to support our operations and strategic growth initiatives.” Any amount borrowed by Riot is subject to annual interest equal to 4.5% plus the federal funds rate upper limit or 3.25%, whichever is higher.
Riot Platforms is not alone in utilizing Coinbase’s credit services; Hut8 borrowed $50 million in 2023 and increased its principal to $65 million in January. Riot currently holds 19,223 BTC, valued at nearly $1.8 billion at current prices, ranking third among publicly traded companies with Bitcoin on their balance sheets. Shares of RIOT closed up 5.34% at $7.50, though they remain down more than 36% over the last year. Coinbase shares also saw a 2.53% increase to $194.80 but are down 17.6% over the past 12 months.
| Company | Credit Facility | BTC Holdings | Share Price Change (Day) | Share Price Change (Year) |
|---|---|---|---|---|
| Riot Platforms | $100 million | 19,223 BTC (~$1.8 billion) | +5.34% ($7.50) | -36% |
| Coinbase | — | — | +2.53% ($194.80) | -17.6% |
| Hut8 | $65 million | — | — | — |
Key Takeaway: Riot Platforms is leveraging its Bitcoin reserves for strategic growth, reflecting a trend among major miners to secure non-dilutive financing through crypto-backed credit facilities. (Source: Decrypt)
Trump Sons’ Bitcoin Mining Partners and Regulatory Scrutiny
Eric Trump and Donald Trump Jr. have entered the cryptocurrency mining sector by partnering with executives who previously founded a miner backed by investors implicated in an illegal penny-stock pump-and-dump operation. The Trump sons and other investors formed a new company and merged it with publicly traded miner Hut 8 Corp., led by CEO Asher Genoot and Chief Strategy Officer Michael Ho. These executives joined Hut 8 in 2023 after the company acquired US Bitcoin, which they had founded with financial backers who, in 2018, settled accusations by the Securities and Exchange Commission of illegal promotion and manipulative trading of microcap stocks.
This background highlights the complex regulatory environment and the scrutiny faced by new entrants in the crypto mining industry, especially those with ties to previous legal controversies.
Key Takeaway: The Trump sons’ foray into Bitcoin mining involves partners with a history of regulatory issues, underscoring ongoing compliance challenges in the sector. (Source: Bloomberg.com)
Tesla Maintains $1.05 Billion in Bitcoin Amid Disappointing Q1 2025 Earnings
Tesla announced in its Q1 2025 earnings report that it has not sold its Bitcoin holdings, which are valued at $1.05 billion and consist of 11,509 BTC. Despite this, Tesla’s quarterly revenue fell short of expectations, reporting $19.34 billion against an anticipated $21.3 billion—a 9% year-over-year decline. The company’s earnings per share (EPS) were $0.27, below the expected $0.41, and its gross margin dropped from 17.4% in Q1 2024 to 16.3%. Core automotive revenue also declined by 20% year-over-year to $13.9 billion, marking the worst quarter for Tesla since Q2 2022 in terms of revenue.
Tesla’s stock closed at $237.97 on April 22, down 40% year-to-date. Meanwhile, Bitcoin was trading at $91,256.36, down just 3% YTD according to Kraken’s price feed. Speculation about the Department of Government Efficiency (DOGE) using Dogecoin was dismissed by Elon Musk, who stated there were no such plans.
| Metric | Q1 2025 | Expectation | Change YoY |
|---|---|---|---|
| Revenue | $19.34 billion | $21.3 billion | -9% |
| EPS | $0.27 | $0.41 | — |
| Gross Margin | 16.3% | — | 17.4% (Q1 2024) |
| Automotive Revenue | $13.9 billion | — | -20% |
| Bitcoin Holdings | 11,509 BTC ($1.05 billion) | — | — |
Key Takeaway: Tesla’s financial performance lagged expectations, but the company continues to hold a significant Bitcoin reserve. (Source: TheStreet)
Gold and Bitcoin Surge as Investors Flee the US Dollar
Gold reached a new record high of $3,500 per troy ounce on the New York Mercantile Exchange before settling at around $3,426. This surge represents a nearly 30% increase since President Trump’s return to the White House. JPMorgan analysts expect gold to average $3,675 per ounce by Q4 and potentially hit $4,000 by mid-2026. Bitcoin also climbed to nearly $91,000, its highest level since early March, narrowing its year-to-date loss to under 5%. Spot bitcoin ETFs rallied, with the iShares Bitcoin Trust (IBIT) and others gaining 2.4% after a 3% jump on Monday.
ETF inflows totaled $381.3 million on Monday, with ARK 21Shares ETF (ARKB) leading at $116.1 million, followed by Bitwise (BITB) at $87.6 million, and iShares at $41.6 million. Central banks are expected to purchase around 900 metric tons of gold in 2025 after acquiring 1,045 tons in 2024, accounting for roughly 20% of global demand. The ICE US Dollar Index fell by over 1% on Monday, reaching its lowest level since February 2022, while the US posted a record $1.2 trillion trade deficit in 2024 and a net international investment position of -$26.2 trillion.
- Gold hit $3,500/oz, settled at $3,426
- Bitcoin peaked at nearly $91,000
- Spot bitcoin ETFs up 2.4% (IBIT, ARKB, BITB)
- ETF inflows: $381.3 million (Monday)
- Central bank gold purchases: 900 metric tons expected in 2025
- US trade deficit: $1.2 trillion (2024)
- Net international investment position: -$26.2 trillion
Key Takeaway: Investor anxiety over US dollar stability and policy is driving capital into gold and Bitcoin, with both assets reaching significant highs. (Source: New York Post)
Bitcoin Rebounds Near $92,000, Spot ETFs and Crypto Stocks Rally
Bitcoin surged to $91,740 on Tuesday, its highest level in over a month, and traded around $91,250 in the afternoon, up about 4.6% over the past 24 hours according to CoinMarketCap. Spot bitcoin ETFs and crypto stocks also saw significant gains. Related news highlighted that Bitcoin had previously reached $94,000, and spot bitcoin ETF flows nearly hit $1 billion. The rally in Bitcoin coincided with declines in the US dollar and S&P 500, while gold and Bitcoin rose as cash exited US assets, posing a threat to the Trump administration’s agenda.
The strong performance of Bitcoin and related ETFs reflects a broader shift in investor sentiment, with capital moving away from traditional US financial assets toward alternative stores of value.
| Asset | Recent High | 24h Change | ETF Flows |
|---|---|---|---|
| Bitcoin | $91,740 | +4.6% | Nearly $1 billion |
| Gold | — | — | — |
Key Takeaway: Bitcoin’s rally to near $92,000 is accompanied by strong ETF inflows and a shift away from US equities and the dollar. (Source: Investor's Business Daily)
Einschätzung der Redaktion
The establishment of a $100 million credit facility by Riot Platforms, secured by its substantial Bitcoin holdings, signals a maturing phase in the crypto mining industry where large players are leveraging digital assets for non-dilutive financing. This move demonstrates increasing confidence in Bitcoin as collateral and highlights the growing integration between traditional financial mechanisms and the crypto sector. The competitive cost of capital and the trend of miners seeking alternative funding sources may accelerate industry consolidation and innovation, while also reinforcing the strategic value of holding significant Bitcoin reserves. Such developments could further legitimize crypto-backed lending and set new standards for capital management among public mining companies.
- Crypto-backed credit facilities are becoming a mainstream financing tool for major miners.
- Bitcoin’s role as collateral is gaining institutional acceptance.
- This trend may drive further professionalization and financial sophistication in the mining sector.
Sources:
- Spain’s University of the Hespérides Launches First Master’s in Bitcoin Program
- Bitcoin Miner Riot Platforms Gets $100M Credit Facility From Coinbase
- Trump Sons’ Bitcoin Mining Partners Had Run-Ins With Regulators
- Startling Tesla earnings reveal surprising outlook
- Gold hits record high of $3.5K, Bitcoin tops $90K as investors flee US dollar
- Bitcoin Rebounds Near $92K For The First Time Since Early March
