Riot Platforms Amends Filing for Bitfarms Stake

TL;DR

Riot Platforms just updated its Bitfarms stake filing - watch this space.

AI Summary

Riot Platforms, Inc. has filed an amendment (SC 13D/A) on May 29, 2024, to its Schedule 13D regarding its holdings in Bitfarms Ltd. This filing indicates a change in the beneficial ownership of Bitfarms Ltd. by Riot Platforms, Inc. The specific details of the change in ownership percentage or the exact number of shares acquired or disposed of are not explicitly stated in this excerpt, but the amendment signifies an active update to Riot's stake.

Why It Matters

This amendment signals a potential shift in control or influence over Bitfarms Ltd., which could impact its stock price and strategic direction.

Risk Assessment

Risk Level: medium — Changes in beneficial ownership filings can precede significant corporate actions or market movements, introducing uncertainty.

Key Players & Entities

• Riot Platforms, Inc. (company) — Filing party and holder of securities
• Bitfarms Ltd. (company) — Issuer of securities
• 09173B107 (other) — CUSIP Number for Bitfarms Ltd. Common Shares

FAQ

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

View Full Filing

View this SC 13D/A filing on SEC EDGAR