New York-based 13D Management sold its entire 453,272-share position in Riot Platforms, Inc., valued at $5.12 million. This represented 4.7% of the fund’s assets in the prior quarter.

Riot Platforms operates Bitcoin mining facilities and provides engineering services, generating revenue from these operations. Its top holdings include MRCY, QRVO, VSAT, ALV, and PSO.

After Riot Platforms’ blowout quarter, 13D Management liquidated its position amid changing dynamics in the mining sector. The company’s stock had surged nearly 90% year-to-date, prompting a disciplined exit strategy. Shares are now in line with the market’s performance.

Read more at Yahoo Finance: Why a Fund Ditched a $5.1 Million Riot Platforms Stake Amid a Strong Run