Bitfarms Ltd (TSX: BITF) continues to see one of their largest shareholders shed their position in the company. Riot Platforms (NASDAQ: RIOT) last night disclosed that they have sold off additional shares in the company, following a process that began in June.
The latest transaction has seen Riot sell off a further 1.78 million shares of Bitfarms, the third such sale transaction conducted by the company. The shares were sold at an average price of US$1.13, leading to gross proceeds of US$2.01 million from the sale.
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Post-transaction, Riot now holds a total of 57.2 million shares of Bitfarms, representing 10.29% of Bitfarms. The latest transaction reduced their holdings from 10.61% of the shares outstanding, while Riot held a 14.61% interest in Bitfarms at the start of June, prior to Riot electing to unwind their position.
Bitfarms last traded at $1.48 on the TSX.
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