Riot Platforms sold over 11.1 million shares of Bitfarms on Monday, with a total value of approximately 15.1 million dollars

ChainCatcher news, after accelerating the sale of stocks in recent weeks, Riot Platforms has significantly reduced its stake in competitor Bitcoin mining company Bitfarms, culminating on Monday with the sale of 11 million shares. According to securities filing documents, Riot sold over 11.1 million shares of Bitfarms stock on August 18 at an average price of $1.36 per share, totaling approximately $15.1 million. This move has reduced its ownership stake to below 5%, eliminating the need for public disclosure.

As of 2025, Riot has sold about 71.5% of the 90 million shares of Bitfarms stock accumulated last year, which is approximately 64.4 million shares, at an average selling price of $1.11 per share, generating $71.3 million in revenue. Riot's average cost basis when building its position in 2024 was $2.24 per share, meaning this divestment has resulted in significant losses compared to its initial investment.

The sale on August 18 was Riot's largest single-day transaction in months, far exceeding its previous daily sales volume, which typically ranged from several hundred thousand to 4 million shares.