Riot Platforms Inc. has announced that it now holds a 10% beneficial ownership interest in Bitfarms Ltd.
Riot revealed that it has acquired approximately 3.00 million common shares of Bitfarms, which constitutes around 0.75% of the total issued and outstanding common shares of the company.
Prior to this recent acquisition, Riot already beneficially owned about 36.86 million common shares, representing roughly 9.25% of the total outstanding shares. With this latest purchase, Riot’s ownership has increased to approximately 39.86 million shares, accounting for 10% of the issued and outstanding common shares as of the current date.
Riot has also announced its intention to call a special meeting of Bitfarms' shareholders, where it plans to nominate several highly qualified and independent directors to join Bitfarms' Board.
