Riot Platforms continues navigating its complex relationship with Bitfarms while expanding its operations.
Riot Platforms Inc., the third largest Bitcoin miner on Wall Street, has significantly increased its stake in rival Bitfarms Ltd. In a regulatory filing on Aug. 13, Riot disclosed acquiring an additional 1 million Bitfarms common shares through open market purchases.
This transaction, valued at approximately $2.28 million, raises Riot’s total holdings in Bitfarms to 85.3 million shares, up from the previous 84.3 million. With this purchase, Riot now owns 18.9% of Bitfarms, intensifying its influence over the Canadian mining firm.
