Riot Platforms Amends Bitfarms Stake Filing

TL;DR

Riot Platforms just updated its Bitfarms filing - ownership changes afoot.

AI Summary

Riot Platforms, Inc. filed an amendment (No. 11) to its Schedule 13D on August 21, 2024, regarding its beneficial ownership of Bitfarms Ltd. common shares. The filing indicates a change in the reporting of Riot's holdings, but specific details on the exact number of shares or percentage of ownership are not immediately clear from this header information.

Why It Matters

This filing is significant as it signals ongoing activity or changes in ownership for Riot Platforms concerning its investment in Bitfarms, potentially impacting market perception and strategy for both companies.

Risk Assessment

Risk Level: medium — Changes in beneficial ownership filings can indicate shifts in strategic stakes or potential activist involvement, requiring careful monitoring.

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

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

View Full Filing

View this SC 13D/A filing on SEC EDGAR