John Armitage's Egerton Capital liquidated its entire stake in RIOT Platforms during the third quarter, according to a recent SEC filing. The fund sold all 2.63 million shares it held, a position valued at approximately $71.97 million at the end of the prior quarter. As a quarterly disclosure for institutional investors, this 13F filing reflects trading activity that occurred between July 1 and September 30, 2026, not a current-day transaction.
The sale occurred as RIOT Platforms navigated a strategic shift from being a pure-play Bitcoin miner to also developing data centers for artificial intelligence clients. During the reporting period, the company's revenue mix was changing, with Bitcoin mining revenue declining year-over-year in the second quarter while its engineering segment grew. The stock showed volatility and crossed below a key technical moving average near the end of September.