RIOT - Riot Platforms Stirs Up Bitcoin Mining Market Increases Stake in Rival Bitfarms to 12% | Benzinga
In a recent development, Bitcoin (CRYPTO: BTC) mining company Riot Platforms Inc. (NASDAQ:RIOT) has increased its stake in competitor Bitfarms Ltd. (NASDAQ:BITF) to 12%.
What Happened: Riot Platforms acquired roughly 1.5 million shares of Bitfarms at an approximate price of $2.45 per share, as per a Reuters report on Wednesday. This acquisition comes on top of Riot’s existing beneficial ownership of about 11.63% of Bitfarms’ shares.
Riot has indicated its plans to call for a special shareholder meeting to include independent directors on Bitfarms’ board, due to concerns ...