Riot Platforms Amends Bitfarms Stake Filing
Ticker: BITF · Form: SC 13D/A · Filed: Aug 21, 2024 · CIK: 1812477
| Field | Detail |
|---|---|
| Company | Bitfarms Ltd (BITF) |
| Form Type | SC 13D/A |
| Filed Date | Aug 21, 2024 |
| Risk Level | medium |
| Pages | 3 |
| Reading Time | 3 min |
| Key Dollar Amounts | $201,543,224 |
| Sentiment | neutral |
Sentiment: neutral
Topics: sec-filing, ownership-change, amendment
TL;DR
Riot Platforms updated its Bitfarms stake filing (13D/A).
AI Summary
Riot Platforms, Inc. filed an amendment (No. 11) to its Schedule 13D on August 21, 2024, regarding its holdings in Bitfarms Ltd. The filing indicates a change in the beneficial ownership of Bitfarms' common shares by Riot Platforms, Inc. The specific details of the change in ownership percentage or the exact number of shares are not explicitly stated in this excerpt, but it signifies an ongoing update to Riot's stake.
Why It Matters
This filing signals a potential shift in control or influence for Bitfarms Ltd., as a major shareholder like Riot Platforms, Inc. updates its disclosures. Investors will monitor this for insights into Riot's strategy and Bitfarms' future.
Risk Assessment
Risk Level: medium — Schedule 13D filings often indicate significant stake-building or changes in control, which can lead to volatility and strategic shifts for the involved companies.
Key Players & Entities
- Riot Platforms, Inc. (company) — Filing entity
- Bitfarms Ltd. (company) — Subject company
- 0001104659-24-091467 (filing_id) — SEC Accession Number
- 20240821 (date) — Filing date
FAQ
What is the specific change in beneficial ownership reported in this amendment?
This excerpt does not specify the exact change in beneficial ownership percentage or the number of shares acquired or disposed of, only that an amendment (No. 11) was filed on August 21, 2024.
What is the CUSIP number for Bitfarms Ltd. common shares?
The CUSIP number for Bitfarms Ltd. common shares is 09173B107.
What was Riot Platforms, Inc. formerly known as?
Riot Platforms, Inc. was formerly known as Riot Blockchain, Inc. (name change 20171004), Bioptix, Inc. (name change 20161201), and Venaxis, Inc. (name change 20121218).
Where is Bitfarms Ltd. headquartered?
Bitfarms Ltd. is headquartered at 110 Yonge Street, Suite 1601, Toronto, A6, M5C 1T4.
What is the filing date of this Schedule 13D/A amendment?
The filing date of this Schedule 13D/A amendment is August 21, 2024.
Filing Stats: 791 words · 3 min read · ~3 pages · Grade level 8.3 · Accepted 2024-08-21 08:51:53
Key Financial Figures
- $201,543,224 — Reporting Person reported herein was US$201,543,224. The Common Shares beneficially owned b
Filing Documents
- tm2422209d1_sc13da.htm (SC 13D/A) — 37KB
- 0001104659-24-091467.txt ( ) — 39KB
Security and Issuer
Item 1. Security and Issuer. This Amendment No. 11 to Schedule 13D (“ Amendment No. 11 ”) relates to the Schedule 13D filed on May 28, 2024 (as amended by Amendment No. 1, dated May 29, 2024, Amendment No. 2, dated June 4, 2024, Amendment No. 3 dated June 5, 2024, Amendment No. 4 dated June 12, 2024, Amendment No. 5 dated June 13, 2024, Amendment No. 6 dated June 24, 2024, Amendment No. 7 dated July 31, 2024, Amendment No. 8 dated August 5, 2024, Amendment No. 9 dated August 9, 2024 and Amendment No. 10 dated August 14, 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. 11, 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 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$201,543,224. The Common Shares beneficially owned by the Reporting Person were purchased using funds out of its working capital.
Interest in Securities of the Issuer
Item 5. Interest in Securities of the Issuer.
of the Schedule 13D is hereby amended and supplemented by adding
Item 5 of the Schedule 13D is hereby amended and supplemented by adding the following information: (c) The following information concerning the Common Shares purchased by (or on behalf of) the Reporting Person during the 60-day period prior to this filing is added: Trade Date Shares Purchased Weighted Average Price per Share (US$) Price Range (US$) 08/15/2024 1,512,860 2.33 2.23 – 2.39 08/16/2024 1,500,000 2.33 2.26 – 2.42 08/19/2024 790,311 2.39 2.33 – 2.45 08/20/2024 709,689 2.39 2.33 – 2.48 CUSIP No. 09173B107 Page 4 of 4 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: August 21, 2024 Riot Platforms, Inc. By: /s/ Colin Yee Name: Colin Yee Title: Chief Financial Officer