Riot Mining Company sells $1.58 million worth of Bitfarms shares, reducing its stake to 14.3%.

On-chainStrategist · 2025-06-10T21:30:55+00:00

Bitcoin miner Riot Platforms sold 1.75 million shares of Bitfarms stock for $1.58 million, reducing its ownership stake from 15% to 14.3%. This sale is part of a continued review of its investments; Riot had attempted a hostile acquisition of Bitfarms but was rejected, and it may adjust its holdings in the future.

On-chainStrategist

2025-06-10 21:30:55

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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.

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