Riot Platforms, Inc. Adjusts Stake in Bitfarms Ltd. Significantly
Riot Platforms, Inc. Reports Shift in Ownership Stake
Riot Platforms, Inc. (NASDAQ: RIOT) has made headlines with recent adjustments to its investment in Bitfarms Ltd. This dynamic shift is gaining attention as Riot sells a substantial number of shares.
Recent Share Sales
In a recent transaction, Riot announced the sale of 2,462,458 common shares of Bitfarms Ltd. This sale represents about 0.44% of the total outstanding shares. Prior to this sale, Riot beneficially owned 57,207,521 shares, translating to approximately 10.29% ownership.
Context of the Sale
The sold shares were transacted through regular course sales on the Nasdaq Stock Market, indicating Riot's significant engagement in market activities. This reflects the company's strategies and positions in relation to Bitfarms Ltd.
Ownership Levels After the Transaction
With the completion of these sales, Riot now holds 54,745,063 common shares, which accounts for around 9.85% of Bitfarms' outstanding shares. This adjustment in ownership is noteworthy, signaling potential strategic shifts within the company.
Future Investment Considerations
Riot is actively evaluating its investment in Bitfarms, taking into consideration various strategic factors that may influence its decisions moving forward. This includes discussions with Bitfarms' board of directors regarding financial statuses and other investment opportunities.
Company Profile of Riot Platforms, Inc.
Riot is committed to being at the forefront of Bitcoin-driven infrastructure, with a mission to positively influence sectors and communities. The company thrives on innovation and community partnership, aiming for excellence in execution.
Business Operations Overview
As a vertically integrated Bitcoin mining and digital infrastructure company, Riot operates key facilities dedicated to Bitcoin mining in various strategic locations. Their operations reflect a robust framework that enables sustainable growth in the competitive cryptocurrency landscape.
Contact Information
For more details and inquiries regarding the changes in ownership or other corporate matters, please reach out to Phil McPherson, Vice President of Capital Markets & Investor Relations at (303) 794-2000 ext. 110.
Frequently Asked Questions
What prompted Riot Platforms to sell its shares in Bitfarms?
The shares were sold as part of Riot's strategic investment evaluation, influenced by market conditions and potential opportunities.
How much of Bitfarms does Riot currently own?
Following the recent sales, Riot now holds about 9.85% of Bitfarms' outstanding common shares.
Is Riot looking to increase or decrease its stake in Bitfarms?
Riot is reviewing its investment strategy continuously and may adjust its stake based on market conditions and strategic discussions.
What is Riot's primary business focus?
Riot Platforms focuses on Bitcoin-driven infrastructure, engaging in mining activities and aiming to impact related sectors positively.
Who can I contact for more information about Riot?
For more inquiries, contact Phil McPherson at Riot Platforms, Inc. at (303) 794-2000 ext. 110.
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