Riot Platforms (NASDAQ: RIOT) appears to be losing interest in a potential takeover of Bitfarms (TSX: BITF). The crypto name last night disclosed that it had reduced its holdings in Bitfarms, a stake which it had established after trying to acquire the crypto miner last year.
Riot yesterday sold a total of 2.8 million shares of Bitfarms, reducing its ownership stake to 12.29%, versus the prior 12.79% position. Post-sale, Riot still holds 68.3 million common shares of Bitfarms.
READ: Bitfarms Rejects US$950 Million Take-out Offer From Riot Platforms
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The sale saw shares sold at an average price of C$1.14, resulting in gross proceeds of an estimated C$3.2 million from the transaction. Riot indicated it intends to review their investment in Bitfarms on a continuing basis.
Bitfarms last traded at $1.13 on the TSX.
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