Riot Platforms (RIOT) has steadily trimmed its holding Bitfarms (BITF), cutting its economic interest from roughly 19.9% in September 2024 to 13.4% as of June 18, 2025, now down to 12.3% by July 1.
According to the original Schedule 13D filed May 21, 2024, Riot reported owning 36.8 million Bitfarms shares, 9.25% of the shares outstanding at that time.
In the months that followed, Riot’s aggressive accumulation peaked near 19.9%, before regulatory and competitive pressures encouraged a more passive posture.
Read More: Riot may sell 16% stake in Bitfarms, filing shows
Per the Schedule 13D filed June 18, Riot disclosed ownership of 75.7 million shares, or 13.4% of Bitfarms’ 555.96 million shares outstanding. On July 1, Riot disclosed ownership of 68.3 million shares, indicating that it sold 7.4 million shares over the last two weeks.
Despite the economic interest, Riot’s voting power remained capped at 9.9% under an irrevocable proxy arrangement designed to avoid Canadian takeover thresholds.
BITF traded up 3.6% in pre-market hours to $0.875.
Blockspace reached out to Riot for comment. Check back for updates.
