Riot Platforms has sharply reduced its stake in rival bitcoin miner Bitfarms after accelerating share sales in recent weeks, capped by a divestment of 11 million shares on Monday.
According to securities filings, Riot sold more than 11.1 million Bitfarms shares on August 18, worth about $15.1 million at an average price of $1.36. The move slashed its ownership below the 5% threshold that requires public disclosure.
So far in 2025, Riot has sold about 71.5% of the 90 million Bitfarms shares it accumulated last year, unloading roughly 64.4 million shares at an average price of $1.11 and generating proceeds of $71.3 million. Riot built its position in 2024 at an average cost of $2.24 per share, meaning the divestment has come at a steep loss relative to its initial investment.
looks like the 'Jump' for Bitfarms, was the only thing Riot been waiting for. Still selling so much at a loss tells there must be something behind the scene!