Bitcoin
Miner Riot Platforms (Riot) said it sells 1.75 million shares of rival bitfarms (BITF) for $ 1.58 million as part of an ongoing review of its investment in the company following a Unsuccessful bidding It saw the stake in the company rose by nearly 15%.
Shares, which sold on June 9 on top of the NASDAQ and other open markets, took a weight average price of about $ 0.90 per part and reduced the benefit -owned Riot owner to 14.3%, says the company.
The upbringing of the allegation became public in May 2024, with chaos Offered to buy bitfarms For $ 2.30 per part, an approach that quickly declined and abandoned the next month. Riot continued to buy his rival sharing to force the board to join the miner. Bitfarms subsequently implemented a shareholder rights plan or “poisonous pill” to avoid the company’s purchase.
Riot emphasized that it remains focused on evaluating its position in Bitfarms based on a number of emerging factors. This includes potential discussions on the management of BitFarms, the company’s strategic trajectory, and greater market conditions. Riot said it could increase or decrease its future holdings depending on such considerations.
Bitfarms stock rose 4% in pre-market trading to $ 0.96. The riot rose 0.49% to $ 10.17.
