CASTLE
ROCK, Colo., June 9, 2025
/CNW/ - Riot Platforms, Inc. ("Riot") issues this press
release pursuant to Part 3 of Canadian National Instrument 62-103 –
The Early Warning System and Related Take-Over Bid and Insider
Reporting Issues and Part 5 of Canadian National Instrument
62-104 – Take-Over Bids and Issuer Bids in respect of
Bitfarms Ltd. ("Company").
Riot announces that on June 9,
2025 it sold 1,748,200 common shares (the "Sold
Shares") of the Company representing approximately 0.31% of the
issued and outstanding Common Shares (the "Common Shares")
of the Company (based on the information contained in the Company's
management information circular filed on June 9, 2025 (the "Company's
Circular").
The Sold Shares were sold through normal course sales on the
Nasdaq Stock Market and other open market trades for a weighted
average price of approximately US$0.90 per Sold Share (equivalent to
approximately C$1.23 per Sold Share
based on the daily exchange rate posted by the Bank of Canada on June 9,
2025 (the "Exchange Rate")) at a price range per Sold
Share of approximately US$0.88 to
US$0.92 (equivalent to approximately
C$1.21 to C$1.26 based on the Exchange Rate) for an
aggregate amount equal to US$1,576,351.94 (equivalent to approximately
C$2,157,079.99 based on the Exchange
Rate).
Immediately prior to the sales of Common Shares giving rise to
the issuance of this press release, Riot beneficially owned
81,249,679 Common Shares, representing approximately 14.61% of the
issued and outstanding Common Shares (based on the information
contained in the Company's Circular). Following completion of the
aforementioned sales, Riot beneficially owned 79,501,479 Common
Shares, representing approximately 14.30% of the issued and
outstanding Common Shares as at the date hereof (based on the
information contained in the Company's Circular).
Riot intends to review its investment in the Company on a
continuing basis and depending upon various factors, including
without limitation, any discussion between Riot, the Company and/or
the Company's Board of Directors and its advisors regarding, among
other things, the Company's financial position and strategic
direction, overall market conditions, other investment
opportunities available to Riot, and the availability of securities
of the Company at prices that would make the purchase or sale of
such securities desirable, Riot may (i) increase or decrease its
position in the Company through, among other things, the purchase
or sale of securities of the Company, including through
transactions involving the Common Shares and/or other equity, debt,
notes, other securities, or derivative or other instruments that
are based upon or relate to the value of securities of the Company
in the open market or otherwise, (ii) enter into transactions that
increase or hedge its economic exposure to the Common Shares
without affecting its beneficial ownership of the Common Shares or
(iii) consider or propose one or more of the actions described in
subparagraphs (a) - (k) of Item 5 of Riot's early warning report
filed in accordance with applicable Canadian securities laws.
This press release is not meant to be, nor should it be
construed as, an offer (or an intention to make an offer) to buy or
the solicitation of an offer to sell any of the Company's
securities.
Riot will file the Early Warning Report in accordance with
applicable securities laws, which will be available under the
Company's profile at www.sedarplus.ca. The head office of the
Company is 110 Yonge Street, Suite 1601 Toronto, Ontario M5C 1T4. The address of Riot
is 3855 Ambrosia Street, Suite 301, Castle Rock, CO 80109.
FOR MORE INFORMATION
For further information and to obtain a copy of the Early
Warning Report, please see the Company's profile on the SEDAR+
website (www.sedarplus.ca) or contact Phil
McPherson, Vice President, Capital Markets & Investor
Relations, at (303) 794-2000 ext. 110.
About Riot Platforms, Inc.
Riot's (NASDAQ: RIOT) vision is to be the world's leading
Bitcoin-driven infrastructure platform. Our mission is
to positively impact the sectors, networks, and communities that we
touch. We believe that the combination of an innovative spirit and
strong community partnership allows the Company to achieve
best-in-class execution and create successful outcomes.
Riot, a Nevada corporation, is
a Bitcoin mining and digital infrastructure company
focused on a vertically integrated strategy. Riot has
Bitcoin mining operations in central Texas and Kentucky, and electrical engineering and
fabrication operations in Denver,
Colorado, and Houston,
Texas.
For more information, visit www.riotplatforms.com.
Cautionary Note Regarding Forward Looking Statements
Statements contained herein that are not historical facts
constitute "forward-looking statements" and "forward-looking
information" (together, "forward-looking statements") within the
meaning of applicable U.S. and Canadian securities laws that
reflect management's current expectations, assumptions, and
estimates of future events, performance and economic conditions.
Such forward-looking statements rely on the safe harbor provisions
of Section 27A of the U.S. Securities Act of 1933 and Section 21E
of the U.S. Securities Exchange Act of 1934 and the safe harbor
provisions of applicable Canadian securities laws. Because such
statements are subject to risks and uncertainties, actual results
may differ materially from those expressed or implied by such
forward-looking statements. Words and phrases such as "anticipate,"
"believe," "create," "drive," "expect," "forecast," "future,"
"growth," "intend," "hope," "opportunity," "plan," "potential,"
"proposal," "synergies," "unlock," "upside," "will," "would," and
similar words and phrases are intended to identify forward-looking
statements. Such forward-looking statements are not guarantees of
future performance or actual results, and readers should not place
undue reliance on any forward-looking statement as actual results
may differ materially and adversely from forward-looking
statements. Detailed information regarding the factors identified
by the management of Riot, which they believe may cause actual
results to differ materially from those expressed or implied by
such forward-looking statements in this press release, may be found
in Riot's filings with the U.S. Securities and Exchange Commission
(the "SEC"), including the risks, uncertainties and other
factors discussed under the sections entitled "Risk Factors" and
"Cautionary Note Regarding Forward-Looking Statements" of Riot's
Annual Report on Form 10-K for the fiscal year ended December 31, 2024, filed with the SEC on
February 28, 2025, and the other
filings Riot has made or will make with the SEC after such date,
copies of which may be obtained from the SEC's website at
www.sec.gov. All forward-looking statements contained herein are
made only as of the date hereof, and Riot disclaims any intention
or obligation to update or revise any such forward-looking
statements to reflect events or circumstances that subsequently
occur, or of which Riot hereafter becomes aware, except as required
by applicable law.
SOURCE Riot Platforms, Inc.