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Riot Platforms Just Paid 2.28 Million Bucks to Own More of Bitfarms Because Theyre Literally Desperate

BitcoinCrypto NewsHack 2 Linda Williams August 16, 2024

An illustration: A cartoonish image depicting two large mining machines facing each other with their arms crossed; one machine has a red flag and the other a blue flag; in front of them lies a pile of coins labeled '2.28 million'; both machines are surrounded by broken chains, suggesting tension or conflict; above the scene is an arrow pointing downwards to emphasize decline or fall. The illustration style should be reminiscent of comic books from the early 20th century with bold lines and vibrant colors used for dramatic effect.

Riot Platforms has bought more shares from Bitfarms because it’s going bankrupt or something – that’s the only reason any company buys another one out in this space! You can’t make money by mining Bitcoin so you just buy up your competitors to get a bigger piece of nothing

Source: cointelegraph

Riot Platforms boosts Bitfarms stake with $2.28M share acquisition
https://cointelegraph.com/news/riot-platforms-boosts-bitfarms-stake-with-2-28-m-share-acquisition
Riot Platforms Inc., the third largest Bitcoin miner on Wall Street, has significantly increased its stake in rival Bitfarms Ltd. In a regulatory filing on Aug. 13, Riot disclosed acquiring an additional 1 million Bitfarms common shares through open market purchases.  This transaction, valued at approximately $2.28 million, raises Riot’s total holdings in Bitfarms to 85.3 million shares, up from the previous 84.3 million. With this purchase, Riot now owns […]

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About the author

Linda Williams

Linda’s venture into cryptocurrency ended in a gut-wrenching disaster when she lost her private keys due to a ridiculous mishap involving coffee and a particularly reckless cat. With her funds locked away forever, Linda now pours her frustration into writing biting critiques of crypto’s absurdities, dripping with sarcasm. Her tagline? “I lost my private keys and my sanity. Crypto promised freedom, but all it gave me was a lifetime of regret.”

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Disclaimer

The content presented on this site is intended solely for entertainment purposes and should not be taken as factual or reliable information. This site employs satire and humor to discuss global news, current events, finance, and cryptocurrency. The views expressed here are not meant to be taken seriously and do not represent the opinions of any individuals, organizations, or entities discussed.

Please be aware that the content may be exaggerated, fictionalized, or otherwise altered to create a comedic effect. It is not intended to provide financial advice, make accurate predictions, or offer any serious commentary on current events or financial markets.

Readers are encouraged to verify any claims or statements with credible sources and should not make any decisions based on the information provided here. This blog is not responsible for any actions taken based on its content. Always consult a qualified professional before making any financial or investment decisions.

Please do not hesitate to contact us if you have any questions or concerns.

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