Riot sells $1.58 million worth of Bitfarms shares, reducing ownership to 14.3%

Odaily Planet Daily News: Bitcoin miner Riot Platforms announced the sale of 1.75 million shares of Bitfarms stock, with a trading value of approximately $1.58 million and an average selling price of approximately $0.90 per share. This move reduces its stake in Bitfarms from nearly 15% to 14.3%. This sale is part of Riot's ongoing review of its investment in Bitfarms after its previous unsuccessful acquisition. In May of this year, Riot proposed a hostile takeover offer to acquire Bitfarms at $2.30 per share, but the proposal was quickly rejected and abandoned the following month. Riot stated that it will continue to evaluate its holdings in Bitfarms based on various factors, including potential discussions with Bitfarms management, company strategic direction, and market conditions, and may increase or decrease its holdings in the future. （CoinDesk）