Riot Platforms has acquired a 12% stake in Bitfarms Ltd., purchasing 1,460,278 shares at an average price of $2.45 each. Riot Platforms, headquartered in Colorado, has expressed concerns about Bitfarms' corporate governance and plans to propose new board members. Riot now owns 47.8 million shares of Bitfarms. Despite shorting pressure from Kerrisdale Capital, Bitfarms has adopted a 'poison pill' shareholder rights plan to protect its strategic review process from Riot's takeover attempts. This defensive measure aims to deter the unsolicited takeover bid by Riot Platforms, but its effectiveness remains uncertain.
Bitcoin mining company Bitfarms is adopting a “poison pill” shareholder rights plan as a defense after an unsolicited takeover offer by larger rival Riot Platforms https://t.co/LHCuezATt8
Bitcoin mining company Bitfarms is adopting a “poison pill” shareholder rights plan as a defense after an unsolicited takeover offer by larger rival Riot Platforms https://t.co/7k469vWthz
Bitcoin mining company Bitfarms is adopting a “poison pill” shareholder rights plan as a defense after an unsolicited takeover offer by larger rival Riot Platforms https://t.co/6hDALmTSoY
Bitfarms implements shareholder rights plan following shareholder meeting to deter Riot's takeover bid, but effectiveness in halting bid remains uncertain.
.@Bitfarms_io Adopts Defensive Measures Against @RiotPlatforms' Takeover #NewsBytes https://t.co/k3fKiIb4AO
Bitfarms Approves "Poison Pill" Against Riot Platforms Takeover The board of directors of mining company @Bitfarms_io has adopted a shareholder rights plan following a purchase proposal by competitor @RiotPlatforms. This initiative, known in practice as a "poison pill," aims to… https://t.co/bcy9fUQwts
Bitfarms tries to block Riot Platforms hostile takeover with 'poison pill' approach https://t.co/GA3q7DDbOs
Bitfarms has adopted a shareholder rights plan to protect its strategic review process from Riot Platforms' takeover attempts https://t.co/BLf4vmYhtL
Bitfarms to adopt 'poison pill' amid Riot takeover attempt https://t.co/gVAgpRvqov https://t.co/TVG492E9Zy
Riot Platforms Acquires 12% Stake in Bitfarms Ltd. Riot Platforms increased its stake amid market turbulence after expressing concerns about Bitfarms’ corporate governance and believes that the current board’s performance has been subpar. https://t.co/gQHPTQztaP
Riot bought 1.5M Bitfarms shares yesterday at a $2.45 avg. Riot owns 47.8M shares, or approx 12% of BITF. Riot is a legitimate activist but whether they can gain enough sway on the Bitfarms board is an open question. In the meantime, they are aggressively marking up their stake.
Colorado-headquartered crypto mining company Riot Platforms has acquired ownership of a 12% stake in rival Bitfarms despite shorting pressure from Kerrisdale Capital https://t.co/jDew2HeGL0
Riot Platforms acquires 12% stake in rival Bitfarms https://t.co/gNuBLuSOPH https://t.co/KiPBBMID7i
Riot Platforms has acquired a 12% stake in Bitfarms Ltd. and is planning to propose the appointment of new board members. Stay tuned for updates on this developing story. #RiotPlatforms #BitfarmsLtd #boardmembers
📣 JUST IN: $RIOT Riot Platforms Increases Stake in $BITF Bitfarms Ltd. to 12% $COIN $HOOD $MSTR $MARA $HIVE $CLSK 👉 Key Highlights: 📍 Riot Platforms acquires 1,460,278 Bitfarms shares. 📍 New ownership stake stands at 12%. 📍 Shares bought for an average of US$2.45 each.… https://t.co/8djMgriVbV