Riot Platforms Amends Stake in Bitfarms Ltd.
Ticker: BITF · Form: SC 13D/A · Filed: May 29, 2024 · CIK: 1812477
| Field | Detail |
|---|---|
| Company | Bitfarms Ltd (BITF) |
| Form Type | SC 13D/A |
| Filed Date | May 29, 2024 |
| Risk Level | medium |
| Pages | 3 |
| Reading Time | 3 min |
| Key Dollar Amounts | $78,695,396 |
| Sentiment | neutral |
Sentiment: neutral
Topics: ownership-change, sec-filing, cryptocurrency
Related Tickers: BFARF
TL;DR
Riot Platforms just updated its Bitfarms stake filing - watch this space.
AI Summary
Riot Platforms, Inc. has filed an amendment (No. 1) to its Schedule 13D concerning Bitfarms Ltd., indicating a change in its beneficial ownership. The filing, dated May 29, 2024, details Riot Platforms' stake in Bitfarms, a company incorporated in Nevada with its principal executive offices in Toronto, Canada. This amendment likely reflects recent transactions or strategic considerations by Riot Platforms regarding its investment in Bitfarms.
Why It Matters
This filing signals potential strategic moves or shifts in ownership concentration within the cryptocurrency mining sector, which could impact market dynamics and investor sentiment for both companies.
Risk Assessment
Risk Level: medium — Changes in beneficial ownership filings can indicate shifts in control or strategic intent, which carry inherent market risks.
Key Players & Entities
- Riot Platforms, Inc. (company) — Filing entity
- Bitfarms Ltd. (company) — Subject company
- 0001104659-24-066159 (filing_id) — SEC Accession Number
- 20240529 (date) — Filing date
FAQ
What specific changes in beneficial ownership are detailed in this amendment?
The filing is an amendment (No. 1) to a Schedule 13D, indicating a change in beneficial ownership, but the specific details of the change (e.g., percentage increase/decrease, number of shares) are not provided in the header information.
What is the CUSIP number for Bitfarms Ltd. common shares?
The CUSIP number for Bitfarms Ltd. common shares is 09173B107.
What is the primary business address of Riot Platforms, Inc.?
The primary business address of Riot Platforms, Inc. is 3855 Ambrosia Street, Suite 301, Castle Rock, CO 80109.
When was Riot Blockchain, Inc. formerly known as Bioptix, Inc.?
Riot Blockchain, Inc. was formerly known as Bioptix, Inc. with a date of name change on 20161201.
What is the filing date of this SC 13D/A amendment?
The filing date of this SC 13D/A amendment is 20240529.
Filing Stats: 819 words · 3 min read · ~3 pages · Grade level 10 · Accepted 2024-05-29 17:07:40
Key Financial Figures
- $78,695,396 — Reporting Person reported herein was US$78,695,396. The Common Shares beneficially owned b
Filing Documents
- tm2415618d8_sc13da.htm (SC 13D/A) — 30KB
- tm2415618d8_ex1.htm (EX-1) — 24KB
- 0001104659-24-066159.txt ( ) — 57KB
Security and Issuer
Item 1. Security and Issuer. This Amendment No. 1 to Schedule 13D (" Amendment No. 1 ") relates to the Schedule 13D filed on May 28, 2024 (the " Schedule 13D ") by Riot Platforms, Inc., a Nevada corporation (the " Reporting Person "), relating to the Common Shares, no par value per share (the " Common Shares "), of Bitfarms Ltd., a corporation incorporated under the Canada Business Corporations Act and continued under the Business Corporations Act (Ontario), whose principal executive offices are located at 110 Yonge Street, Suite 1601, Toronto, Ontario, M5C 1T4. Except as specifically amended by this Amendment No. 1, the Schedule 13D is unchanged.
Source and Amount of Funds or Other Consideration
Item 3. Source and Amount of Funds or Other Consideration.
of the Schedule 13D is hereby amended and
Item 3 of the Schedule 13D is hereby amended and restated to read in full as follows: The information disclosed under Item 4 of the Schedule 13D (as amended by Amendment No. 1) is hereby incorporated by reference into this Item 3. T he aggregate purchase price of the Common Shares held by the Reporting Person reported herein was US$78,695,396. The Common Shares beneficially owned by the Reporting Person were purchased using funds out of its working capital.
Purpose of Transaction
Item 4. Purpose of Transaction.
of the Schedule 13D is hereby amended and
Item 4 of the Schedule 13D is hereby amended and supplemented by adding the following information: On May 28, 2024, the Reporting Person issued a press release announcing that the Reporting Person had acquired 10.0% of the Common Shares. The foregoing summary of the press release is not intended to be complete and is qualified in its entirety by reference to the full text of the press release, which is filed as Exhibit 1 hereto and is incorporated herein by reference.
Interest in Securities of the Issuer
Item 5. Interest in Securities of the Issuer.
of the Schedule 13D is hereby amended and supplemented by adding
Item 5 of the Schedule 13D is hereby amended and supplemented by adding the following information: (c) The following information concerning the Common Shares purchased by (or on behalf of) the Reporting Person during the 60-day period prior to this filing is added: Trade Date Shares Purchased Weighted Average Price per Share (US$) Price Range (US$) 5/28/2024 3,002,350 2.19 2.14 – 2.23 CUSIP No. 09173B107 Page 4 of 5 SCHEDULE 13D
Material to Be Filed as Exhibits
Item 7. Material to Be Filed as Exhibits. Exhibit 1: Press Release of the Reporting Person, dated May 28, 2024 CUSIP No. 09173B107 Page 5 of 5 SCHEDULE 13D SIGNATURE After reasonable inquiry and to the best of my knowledge and belief, the undersigned certifies that the information set forth in this Statement is true, complete and correct. Dated: May 29, 2024 Riot Platforms, Inc. By: /s/ Colin Yee Name: Colin Yee Title: Chief Financial Officer