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Riot reduced its holdings by 1.75 million shares of Bitfarms, cashing out $1.58 million and lowering its stake to 14.3%.
On June 10, it was reported that Riot Platforms, an American bitcoin mining company, sold 1.75 million Bitfarms shares in the open market on June 9, cashing out $1.58 million at an average price of about $0.90 per share, reducing its shareholding ratio to 14.3%. The reduction was part of an investment review following a previously unsuccessful acquisition. Riot said it will continue to evaluate its position in Bitfarms, which may increase or decrease in the future, depending on market and strategic changes.