Riot sells $1.58 million stake in Bitfarms, reducing holding to 14.3%
2025-06-10 10:00:12
According to CoinDesk, bitcoin miner Riot Platforms has announced the sale of 1.75 million shares of Bitfarms in a transaction valued at approximately $1.58 million at an average selling price of approximately $0.90 per share, a move that reduced its shareholding ratio in Bitfarms from nearly 15% to 14.3%. The sale is part of Riot's ongoing review of its investments following its previously unsuccessful acquisition of Bitfarms. In May, Riot made a hostile offer to acquire 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 holdings in Bitfarms based on a number of factors, including potential discussions with Bitfarms management, the company's strategic direction and market conditions, with the possibility of increasing or decreasing its holdings in the future.
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