TechFlow news, June 10 — According to CoinDesk, bitcoin miner Riot Platforms announced the sale of 1.75 million shares of Bitfarms, valued at approximately $1.58 million, at an average price of about $0.90 per share. This reduces Riot's stake in Bitfarms from nearly 15% to 14.3%. The sale is part of Riot’s ongoing review of its investment following its prior unsuccessful attempt to acquire Bitfarms. In May, Riot made a hostile takeover bid to acquire Bitfarms at $2.30 per share, which was swiftly rejected and subsequently abandoned the following month. Riot stated it will continue to evaluate its position in Bitfarms based on multiple factors, including potential discussions with Bitfarms’ management, strategic direction, and market conditions, and may increase or decrease its holdings in the future.
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