CoinVoice has learned that Riot Platforms has significantly reduced its stake in rival Bitcoin mining company Bitfarms after accelerating the sale of shares in recent weeks, culminating on Monday with the sale of 11 million shares. According to securities filing documents, Riot sold more than 11.1 million shares of Bitfarms stock on August 18 at an average price of $1.36 per share, for a total value of approximately $15.1 million. This move reduced its ownership stake to below 5%, eliminating the need for public disclosure.
As of 2025, Riot has sold approximately 71.5% of the 90 million shares of Bitfarms stock accumulated last year, equivalent to about 64.4 million shares, at an average selling price of $1.11 per share, generating $71.3 million in revenue. Riot's average cost when building its position in 2024 was $2.24 per share, which means this divestment has incurred significant losses relative to its initial investment.
The sale on August 18 was Riot's largest single-day transaction in months, far exceeding its previous daily sale volumes, which typically ranged from several hundred thousand to 4 million shares. [Original link]
