Riot Platforms has sharply reduced its stake in rival bitcoin miner Bitfarms after accelerating its share sales in recent weeks, culminating in the sale of 11 million shares on Monday. Riot sold more than 11.10 million Bitfarms shares on Aug. 18 at an average price of $1.36 per share for a total value of about $15.10 million, according to securities filings. The move brought its shareholding ratio below 5 percent and no longer required public disclosure.
As of 2025, Riot has cumulatively sold approximately 71.5% of the 90 million Bitfarms shares it accumulated last year, or approximately 64.40 million shares, at an average sale price of $1.11 per share for a total gain of $71.30 million. Riot's average cost of opening a position in 2024 is $2.24 per share, which means the divestment suffered a significant loss relative to its initial investment.
The Aug. 18 sale was Riot's largest one-day deal in months, well above its previous daily sales, which typically ranged from a few hundred thousand to 4 million shares.
Riot Platforms sold 11.10 million Bitfarms shares worth about $15.10 million on Monday
2025-08-20 03:27:20
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