Bitcoin mining company Riot increased its holdings of approximately 10.2 million shares of Bitfarms in July to advance its acquisition plan

ChainCatcher news, a document on Wednesday showed that Bitcoin mining company Riot continues to attempt to acquire competitor Bitfarms, which purchased approximately 10.2 million shares of Bitfarms stock in July.

In May of this year, Riot attempted to acquire Bitfarms for about $950 million. The CEO of Riot Platforms criticized Bitfarms' plans to block the acquisition. In June of this year, Bitfarms took its first "poison pill" measure to prevent a potential acquisition, which was later escalated in July.

According to Google Finance, Riot's stock price on Nasdaq closed down 1.74% on Wednesday, while Bitfarms' stock price closed up 4.03%. Year-to-date, Riot's stock price has fallen by 33.87%. (The Block)