Schedule 13D/A Amendment No. 17 highlights Riot Platforms, Inc.’s current position in Bitfarms Ltd. (BITF).
- Beneficial ownership: Riot reports 68,308,376 Bitfarms common shares, equal to 12.3 % of the 555,961,590 shares outstanding.
- Voting power: Under an irrevocable proxy previously granted to Bitfarms, Riot’s voting rights are capped at 55,040,197 shares—exactly 9.9 % of total voting power. Riot retains no shared voting or dispositive power.
- Changes since prior filing: The amendment replaces Exhibit 3 (identity & background information) and updates Item 5 to reflect the latest ownership figures. A new Schedule B (not included in the excerpt) details share sales executed since the last 13D filing.
- Source of funds: Working capital (Item 4).
- Jurisdiction: Riot is incorporated in Nevada; neither the company nor its listed insiders have faced criminal or securities-related civil judgments in the past five years.
The filing provides greater transparency into Riot’s equity stake and formally restates that any shares representing voting power in excess of 9.9 % remain subject to the proxy, limiting Riot’s influence over Bitfarms’ board elections.
Riot Platforms has filed Amendment No. 16 to their Schedule 13D regarding their ownership position in Bitfarms Ltd. The filing discloses that Riot beneficially owns 74,748,156 common shares, representing 13.4% of Bitfarms' outstanding shares (based on 555,961,590 total shares outstanding).
Key ownership details:
- Sole Voting Power: 55,040,197 shares (limited by irrevocable proxy)
- Shared Voting Power: 0 shares
- Sole Dispositive Power: 74,748,156 shares
- Shared Dispositive Power: 0 shares
Due to an existing irrevocable proxy agreement with Bitfarms, Riot's actual voting power is capped at 9.9% of total voting power (approximately 55,040,197 shares). This proxy grants Bitfarms or its designees voting rights for any shares exceeding the 9.9% threshold.