Golden Finance reported that Riot Platforms has significantly reduced its stake in rival Bitcoin mining company Bitfarms after accelerating stock sales in recent weeks, culminating on Monday when it sold 11 million shares. According to securities filing documents, Riot sold over 11.1 million shares of Bitfarms stock on August 18 at an average price of $1.36 per share, totaling approximately $15.1 million. This move reduced its stake to below 5%, eliminating the need for public disclosure. As of 2025, Riot has cumulatively sold about 71.5% of the 90 million shares of Bitfarms stock accumulated last year, which is approximately 64.4 million shares, at an average selling price of $1.11 per share, yielding $71.3 million in revenue. Riot's average cost per share when building its position in 2024 was $2.24, meaning this divestment has resulted in a significant loss relative to its initial investment. The sale on August 18 was Riot's largest single-day transaction in months, far exceeding its previous daily sales, which usually ranged from hundreds of thousands to 4 million shares.
