Riot Platforms has proposed a hostile takeover of Toronto-based Bitcoin miner Bitfarms, offering $2.30 per share in a deal valued at $950 million. Riot has already acquired a 9.25% stake in Bitfarms and aims to create the world's largest publicly listed Bitcoin miner with a combined mining fleet of approximately 169,000 machines, achieving a target of 51 EH/s by 2024. The offer represents a 24% premium over Bitfarms' recent share price. However, Bitfarms' board has rejected the offer, citing concerns about governance and the interests of shareholders. Riot's CEO, Jason Les, has expressed concerns about Bitfarms' current leadership and governance issues.
[COINDESK] Riot Platforms Is Best Suited to Consolidate #Bitcoin Mining Sector: #Bernstein $RIOT
NEW: #Bitcoin miner ⛏️ Riot Platforms acquires a 9.25% stake in Bitfarms, becoming a major shareholder, after Bitfarms rejected Riot's 💵 $950M acquisition offer. https://t.co/DUzalEgDT0
Bitcoin mining giant Riot Platforms is on track to acquire its rival Bitfarms for $950 million, accusing Bitfarms founders of not acting in the best interests of all shareholders https://t.co/IwJF1S9Vkn
.@BernsteinBuzz says @RiotPlatforms has the financial capacity to consolidate the $BTC mining space. Riot has no debt and more than $1.3 billion in cash and bitcoin on its balance sheet. @willcanny99 reports. https://t.co/eKmbldEoPA
#Riot Platforms has announced a proposal to acquire #Bitfarms to create "the world's largest publicly listed #bitcoin miner.” https://t.co/H4N2WS84y7
UPDATE: RIOT PLATFORMS, ONE OF THE LARGEST CRYPTO MINING COMPANIES, SEEKS TO ACQUIRE BITFARMS, ANOTHER LEADING MINING COMPANY
ICYMI: Riot CEO claims Bitfarms not acting in best interests of shareholders amid acquisition rejection Read the full article 👇 https://t.co/gluvbLbDCe https://t.co/ZQ07HPLAD3
Bitfarms stock rallies as rival Riot Platforms discloses rejected merger deal https://t.co/nGZdiD81ll
Riot Platforms, one of the largest crypto mining companies, will seek to acquire BitFarms, another leading mining company. Riot has acquired a 9.25% stake and planned to make a public takeover offer, but was rejected last month. Riot has proposed to acquire Bitfarms for $2.30 per…
Riot offers $950 million to buyout Bitfarms in hostile takeover amid CEO controversy https://t.co/hw79WIxGJe
Riot Platforms, Inc. Reports Beneficial Ownership of 10% in Bitfarms Ltd. https://t.co/O9beCTDmf1 https://t.co/VRMz0TMiv6
#Riot Proposes Acquisition of #Bitfarms to 'Create the World's Largest Publicly Listed #Bitcoin Miner' https://t.co/H4N2WS84y7
Riot proposes hostile takeover of Toronto-based Bitfarms to create world’s largest publicly listed Bitcoin miner https://t.co/C0BfHV5Itx
Bitcoin miner Riot has made an unsolicited offer to buy Bitfarms in a move to create the largest publicly-traded mining company. Click to read: https://t.co/jNWr4yEBVs
#Bitcoin miner takeover: Riot Platforms wants to acquire Bitfarms 🤝 👇Full story here👇 https://t.co/uSSOmohyFe https://t.co/xDYZilgXP0
Riot Platforms offers to buy Bitfarms at 24% premium @RiotPlatforms has offered to buy #Bitfarms for $950M, a 24% premium over its recent share price. Bitfarms, currently searching for a new CEO, has faced internal turmoil and legal issues.
📣 Latest News: Riot Platforms proposes $950M buyout for Bitfarms amid CEO dispute #news #cryptonews #crypto
Bitcoin Mining Giant in the Making? Riot Reveals Bitfarms Takeover Plan ► https://t.co/DUJueQZuJn https://t.co/DUJueQZuJn
Riot Platforms buys 9.25% stake in Bitfarms following rejected takeover offer https://t.co/Hs4s9hFAuz
Bitfarms now trading at $2.24, just 2% off the Riot offer price. The way these deals tend to play out is that the stock will begin trading over the now rejected $2.30 offer price as the market senses other outside bids coming in. Watch this dynamic closely. It will tell the story
Shares of @Bitfarms_io (BITF) have jumped following a proposal from @RiotPlatforms to acquire all outstanding shares of Bitfarms. The proposal, which has a total equity value of $950 million, comes a few weeks after Geoffrey Morphy, the former CEO of Bitfarms, filed a lawsuit…
Bitfarms Shares Jump Following Riot’s $950 Million Proposal To Acquire Bitfarms The proposal comes a few weeks after former CEO of Bitfarms, Geoffrey Morphy, filed a lawsuit against Bitfarms for wrongful dismissal and aggravated damages. by @httpsageyd https://t.co/oaJNp5hMev
Riot CEO claims Bitfarms not acting in best interests of shareholders amid acquisition rejection https://t.co/2LQk5YKL6S
Just off the phone with Riot CEO @JasonLes_ Jason believes a transaction between Riot and Bitfarms will create value for both sets of shareholders. Also, he believes, and I wholeheartedly agree, that corporate governance changes are needed at Bitfarms ASAP. Let's see...
Bitfarms’ board rejected Riot Platforms’ bid to buy the bitcoin miner last month. They are trying again. https://t.co/RAb0UVoWVV
.@RiotPlatforms has sought to acquire fellow $BTC miner @Bitfarms_io having acquired a 9.25% in the company to become its large shareholder. By @JamieCrawleyCD https://t.co/pwRmPBmsw7
[TECH STARTUPS] #Bitcoin mining startup Riot bids to acquire rival Bitfarms in $950 million deal $RIOT $BITF
Bitfarms Rejects US$950 Million Take-out Offer From Riot Platforms $BITF $RIOT $BTC #crypto #bitcoin #merger https://t.co/jvTGHZmdLn via @TheDeepDive_ca
Riot Platforms proposes to buy crypto miner Bitfarms https://t.co/12NRskQRhZ https://t.co/fhkEOp16Ai
📣 JUST IN: $RIOT Riot Proposes to Acquire $BITF Bitfarms, Aiming to Form World's Largest Bitcoin Miner $HOOD $CLSK $COIN $MARA $MSTR $HIVE $HUT 👉 Key Highlights: 📍 Riot proposes to acquire Bitfarms for US$2.30 per share. 📍 Proposal offers 24% premium to Bitfarms'… https://t.co/sjlAuD56f2
From the Riot press release: Jason Les, Chief Executive Officer of Riot, added, “We are deeply concerned that the founders on the Bitfarms Board – Nicolas Bonta and Emiliano Grodzki – may not be acting in the best interests of all Bitfarms shareholders.” Bingo. Governance.
Key Information: https://t.co/C5MeNlw1Xz Today, @RiotPlatforms announced it has accumulated a 9.25% stake in @Bitfarms_io and made a proposal to the Bitfarms’ Board of Directors to acquire Bitfarms, which, if successful, would create the world’s largest publicly-traded Bitcoin… https://t.co/HZ9mjLy5Rl
Riot Proposes to Acquire Bitfarms for US$2.30 Per Share to Create the World’s Largest Publicly Listed Bitcoin Miner https://t.co/OEzu0Qqk9V https://t.co/Uk4hiqFikW
As long as they don’t have an operator (CEO) $BITF doesn’t have a strong negotiating position, $RIOT has upper hand. The $2.30 offer is very underwhelming though If I’m $BITF and think that getting acquired is in fact strategic, have acquisition price be performance based on…
Riot Proposes to Acquire Bitfarms for US$2.30 Per Share to Create the World’s Largest Publicly Listed Bitcoin Miner. Read the full press release here: https://t.co/SnBijrL3i7 For disclaimers, please visit: https://t.co/6RQFSK9MKb.
Riot Proposes to Acquire Bitfarms for $2.30 Per Share $RIOT $BITF
🚨 JUST IN: Riot Platforms $RIOT has reportedly taken a 9.25% stake in Bitfarms $BITF, per Bloomberg. $RIOT has reportedly offered $2.30 per share in cash and stock for Bitfarms https://t.co/0TnXgtV6R3
🚨 JUST IN: Riot Platforms $RIOT has taken a 9.25% stake in Bitfarms $BITF, per Bloomberg. $RIOT has reportedly offered $2.30 per share in cash and stock for Bitfarms https://t.co/J1AuEyQ0o5
Riot Platforms Acquires 9.25% Stake in Bitfarms, Plans Takeover Bid to Create 51 EH/s Miner https://t.co/PJZp47uaFB
🚨 Good morning. Big news in the Bitcoin miner space. $RIOT bought a 9.25% stake in $BITF and plans a takeover offer for the smaller Bitcoin miner
BREAKING‼️ - Riot Platforms has acquired a 9.25% stake in Bitfarms and intends to make a public takeover bid for the smaller Bitcoin mining company, according to sources per Bloomberg. #Bitcoin https://t.co/bIZm6yJY7D
CRAZY news in #bitcoin mining space this morning $RIOT is planning a takeover offer to acquire $BITF Assuming both hit this years EH/s targets we’re talking about a 51 EHs miner by 2024 with a mining fleet of ~169,000 (second to $CORZ) This summer is about to be fireworks https://t.co/9Kjkf4d53E
CRAZY news in #bitcoin mining space this morning $RIOT is planning a takeover offer to acquire $BITF Assuming both hit this years EH/s targets we’re talking about a 51 EHs miner by 2024 with a mining fleet of ~169,000 (second to $CORZ) This summer is about to be fireworks… https://t.co/9Kjkf4d53E
SCOOP w/@MattMonks123 : Riot Platforms has taken a 9.25% stake in Bitfarms and plans to go public with a takeover offer for the smaller Bitcoin miner, sources say. Imo, probably one of the most important deals in the space, https://t.co/YLvJ0ZMBZd via @technology
Riot Platforms has taken a 9.25% stake in Bitfarms and plans to go public with a takeover offer for the smaller Bitcoin miner, sources say https://t.co/zwSAePkCo0
$BITF $RIOT RIOT SAID TO PURSUE TAKEOVER OF RIVAL BITCOIN MINER BITFARMS