RE:Going 100% HoStile TO?Another update.........an unfortunate one sadly.......for me as a Riot s/h....
It seems that i Riot has indeed INCREASED it's interest of Bitfarms.......though slightly.......in the last few days. I had previsouly said that it looked like Riot probably did not, but unfortunately they actually did as per the latest SEC filings, and the latest transactions below....
| 05/30/2024 | | | 2,135,158 | | | | 2.23 | | | 2.15 – 2.30 | |
| 05/31/2024 | | | 1,733,781 | | | | 2.23 | | | 2.19 – 2.29 | |
| 06/03/2024 | | | 1,138,476 | | | | 2.33 | | | 2.27 – 2.36 | |
Asa Riot s/h, this isn't something i was hoping for, actually HOPED that it would not happen and they would not forge ahead with the idead/deal.......but it seems they are adamant in takiing out this mismanaged messof a company with sub par assets. Oh well......maybe things could POSSIBLY change once they (Riot mgmt!!) get their heads screwed on right ......and realize what stupid crazy expensive move this is......
So for now......it seems that Riot now own about ~45M shares of Bitfarms or about 11% of the company......UP from the previous 10%. A slight increaseBUT waysto go before anyone takes them or this TO seriously.........and i think that will only happen once Riot gets over 25%....which could be some time before they reach that milestone at this pace.......
......AND in addition..... i REALLY don't know WHERE they will get the money to do so.....Because they were banking on this deal playing out without ANY hitches or problems and to eventually pay for most of it with the leverage of their OWN shares or shares swap..........which of course did pan out as they expected when Bitfarm's CEO ...who was probably onboard with the idea......got the old Julius Caesar treatment & got
unceremoniously BOOTED OUT...........
GLTA