Filing Details

 

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

 

SCHEDULE 13D

 

Under the Securities Exchange Act of 1934

(Amendment No. 5)*

 

Bitfarms Ltd.

(Name of Issuer)

Common Shares

(Title of Class of Securities)

09173B107

(CUSIP Number)

Riot Platforms, Inc. 3855 Ambrosia Street, Suite 301 Castle Rock, CO 80109 Telephone: (303) 794-2000

Attention to: William Jackman Executive Vice President, General Counsel and Secretary

(Name, Address and Telephone Number of Person Authorized to Receive Notices and Communications)

June 13, 2024

(Date of Event Which Requires Filing of This Statement)

 

If the filing person has previously filed a statement on Schedule 13G to report the acquisition that is the subject of this Schedule 13D, and is filing this schedule because of §§ 240.13d-1(e), 240.13d-1(f) or 240.13d-1(g), check the following box. ¨

 

* The remainder of this cover page shall be filled out for a reporting person’s initial filing on this form with respect to the subject class of securities, and for any subsequent amendment containing information which would alter disclosures provided in a prior cover page.

 

The information required on the remainder of this cover page shall not be deemed to be “filed” for the purpose of section 18 of the Securities Exchange Act of 1934 (“Act”) or otherwise subject to the liabilities of that section of the Act but shall be subject to all other provisions of the Act (however, see the Notes).

 

 

CUSIP No. 09173B107

Page 2 of 5

 

SCHEDULE 13D

 

1	NAME OF REPORTING PERSON   Riot Platforms, Inc.
2	CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP			(a)    ¨ (b)    ¨
3	SEC USE ONLY
4	SOURCE OF FUNDS   WC
5	CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEMS 2(d) or 2(e)			¨
6	CITIZENSHIP OR PLACE OF ORGANIZATION   Nevada
NUMBER OF SHARES BENEFICIALLY OWNED BY EACH REPORTING PERSON WITH		7	SOLE VOTING POWER   57,627,036
		8	SHARED VOTING POWER   0
		9	SOLE DISPOSITIVE POWER   57,627,036
		10	SHARED DISPOSITIVE POWER   0
11	AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON   57,627,036
12	CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES:			¨
13	PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)   14.0%
14	TYPE OF REPORTING PERSON   CO

 

CUSIP No. 09173B107

Page 3 of 5

 

SCHEDULE 13D

 

Item 1. Security and Issuer.

 

This Amendment No. 5 to Schedule 13D (“Amendment No. 5”) relates to the Schedule 13D filed on May 28, 2024 (as amended by Amendment No. 1, dated May 29, 2024, Amendment No. 2, dated June 4, 2024, Amendment No. 3 dated June 5, 2024 and Amendment No. 4 dated June 12, 2024, the “Schedule 13D”) by Riot Platforms, Inc., a Nevada corporation (the “Reporting Person”), relating to the Common Shares, no par value per share (the “Common Shares”), of Bitfarms Ltd., a corporation incorporated under the Canada Business Corporations Act and continued under the Business Corporations Act (Ontario), whose principal executive offices are located at 110 Yonge Street, Suite 1601, Toronto, Ontario, M5C 1T4.

 

Except as specifically amended by this Amendment No. 5, the Schedule 13D is unchanged.

 

Item 3. Source and Amount of Funds or Other Consideration.

 

Item 3 of the Schedule 13D is hereby amended and restated to read in full as follows:

 

The information disclosed under Item 4 of the Schedule 13D (as amended by Amendment No. 5) is hereby incorporated by reference into this Item 3.

 

The aggregate purchase price of the Common Shares held by the Reporting Person reported herein was US$120,779,490. The Common Shares beneficially owned by the Reporting Person were purchased using funds out of its working capital.

 

Item 4. Purpose of Transaction.

 

Item 4 of the Schedule 13D is hereby amended and supplemented by adding the following information:

 

On June 13, 2024, the Reporting Person issued a press release announcing that the Reporting Person had increased its beneficial ownership of the Common Shares to 14.0%. The foregoing summary of the press release is not intended to be complete and is qualified in its entirety by reference to the full text of the press release, which is filed as Exhibit 1 hereto and is incorporated herein by reference.

 

Item 5. Interest in Securities of the Issuer.

 

Item 5 of the Schedule 13D is hereby amended and supplemented by adding the following information:

 

(c) The following information concerning the Common Shares purchased by (or on behalf of) the Reporting Person during the 60-day period prior to this filing is added:

 

Trade Date		Shares Purchased		Weighted Average Price per Share (US$)		Price Range (US$)
06/12/2024		2,401,533		2.42		2.32  – 2.49
06/13/2024		1,432,063		2.70		2.55 – 2.75

 

 

CUSIP No. 09173B107

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SCHEDULE 13D

 

Item 7. Material to Be Filed as Exhibits.

 

Exhibit 1: Press Release of the Reporting Person, dated June 13, 2024

 

 

CUSIP No. 09173B107

Page 5 of 5

 

SCHEDULE 13D

 

SIGNATURE

 

After reasonable inquiry and to the best of my knowledge and belief, the undersigned certifies that the information set forth in this Statement is true, complete and correct.

 

Dated: June 13, 2024

 

	Riot Platforms, Inc.
	By:	/s/ Colin Yee
		Name:  Colin Yee
		Title:   Chief Financial Officer