Riot Platforms Reveals 10% Beneficial Ownership Stake In Bitfarms

(RTTNews) - Riot Platforms Inc. announced its beneficial ownership of 10% in Bitfarms Ltd.

Riot said that it acquired ownership of about 3.00 million common shares of the company representing about 0.75% of the issued and outstanding common shares of Bitfarms.

Immediately prior to the acquisition of Common Shares, Riot beneficially owned about 36.86 million Common Shares, representing approximately 9.25% of the issued and outstanding Common Shares. Following completion of the aforementioned acquisition, Riot beneficially owned about 39.86 million Common Shares, representing about 10.00% of the issued and outstanding Common Shares as at the date hereof.

Riot currently intends to requisition a special meeting of Bitfarms' shareholders, at which Riot intends to nominate several well-qualified and independent directors to join the Company's Board.