05:07 AM EDT, 08/14/2024 (MT Newswires) -- Riot Platforms ( RIOT ) said late Tuesday it has acquired 1 million Bitfarms ( BITF ) shares, representing about 0.22% of the latter's issued and outstanding common stock, for about $2.3 million.

The purchase was for a weighted average per-share price of about $2.28.

Immediately before the acquisition, Riot beneficially owned about 84.3 million Bitfarms ( BITF ) shares, representing roughly 18.7% of its issued and outstanding common stock. Following completion, Riot beneficially owned 18.9%.

Riot reiterated that it has requisitioned a special meeting at which it will "seek to remove" certain Bitfarms ( BITF ) directors and replace them with independent director candidates.

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