Riot drops its holdings in Bitfarms stocks: after the acquisition failure, it reduces its stake to 14.3%.

Bitcoin miner Riot Platforms reportedly announced the sale of 1.75 million Bitfarms shares worth about $1.58 million at an average selling price of about $0.90 per share, a move that reduced its stake in Bitfarms from nearly 15% to 14.3%. The sale is part of Riot's ongoing review of its investment following a previously unsuccessful acquisition of Bitfarms. In May, Riot made a hostile takeover offer to buy Bitfarms for $2.30 per share, but the offer was quickly rejected and abandoned the following month. Riot said it will continue to evaluate its position at Bitfarms based on a number of factors, including potential discussions with Bitfarms management, the company's strategic direction and market conditions, and may increase or decrease its holdings in the future.