Riot Platforms has made a significant investment in Bitfarms Ltd., acquiring 19.9% of its shares for $180 million. This strategic move increases Riot's presence in the Bitcoin mining market.
The deal includes the purchase of 90,110,912 shares of Bitfarms, solidifying Riot's position as a major shareholder. According to the company, this investment aims to expand its influence in the industry and potentially increase stock value.
The $180 million investment is one of the largest capital injections in the cryptocurrency mining sector in 2024. Experts believe this move could lead to market consolidation and heightened competition among leading players.
