TechFlow news, June 22 — According to TheMinerMag, Riot Platforms has sold 6.5 million shares of Bitfarms since June 7 at an average price of $0.85 per share, generating total proceeds of $5.67 million. This latest sale follows a prior divestment of 8.85 million shares between May 27 and June 6. Since late May, Riot has cumulatively sold 15.36 million Bitfarms shares, raising approximately $14.2 million.
Despite the continuous减持, Riot remains Bitfarms' largest shareholder with a current ownership stake of 13.4%. Riot initially acquired around 90 million shares in early 2024 at an average price of $2.24 per share in an attempt to take over Bitfarms. The recent sales indicate that Riot is now accepting investment losses and recalibrating its capital allocation strategy.
