Caroline Bishop
Jul 02, 2025 10:28
Riot Platforms has announced a reduction in its stake in Bitfarms Ltd., now holding 12.3% after selling over 2.8 million shares. This move aligns with Riot’s strategic investment review.
Riot Platforms, Inc., a leading Bitcoin mining and digital infrastructure company, has reported a reduction in its ownership of Bitfarms Ltd. The announcement, made on July 1, 2025, revealed that Riot sold 2,802,484 common shares of Bitfarms, representing approximately 0.50% of the company’s issued and outstanding shares. This transaction was conducted through normal course sales on the Nasdaq Stock Market and other open market trades, at a weighted average price of approximately US$0.84 per share.
Details of the Transaction
Prior to the sale, Riot Platforms held 71,110,860 common shares of Bitfarms, equating to about 12.79% of the total shares. Following the transaction, Riot’s ownership now stands at 68,308,376 shares, or roughly 12.29% of the total outstanding shares. The sale was executed for a total of US$2,349,042.09, equivalent to approximately C$3,204,798.12 based on the exchange rate posted by the Bank of Canada on June 30, 2025.
Strategic Investment Review
Riot Platforms has indicated that it will continue to review its investment in Bitfarms. The company stated that its future actions will depend on several factors, including the financial position and strategic direction of Bitfarms, market conditions, and the availability of other investment opportunities. Riot may choose to increase or decrease its holdings in Bitfarms or engage in transactions to hedge its economic exposure to the company’s shares.
Riot Platforms’ Vision
As a prominent player in the cryptocurrency sector, Riot Platforms is committed to leveraging its position to drive growth and innovation within the industry. The company operates Bitcoin mining facilities in central Texas and Kentucky, and has engineering and fabrication operations in Denver, Colorado, and Houston, Texas. Riot’s overarching mission is to establish itself as a leading Bitcoin-driven infrastructure platform.
For more comprehensive details on Riot Platforms’ recent transactions and strategic plans, the company’s filings can be accessed through the U.S. Securities and Exchange Commission’s website. Further updates on the company’s ownership changes and investment strategies will be monitored closely by industry analysts.
For additional information, please refer to the official announcement by Riot Platforms on their website.
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