Riot Platforms proposes to acquire Bitfarms for $2.30/share, aiming to form the world's largest public Bitcoin miner.
Riot Platforms, a Bitcoin mining company, has proposed to acquire rival Bitfarms for US$2.30 per share, aiming to create the world's largest publicly listed Bitcoin miner. Riot has already acquired a 9.25% stake in Bitfarms and believes that Bitfarms' recent management turnover indicates issues with corporate governance. The US$950 million acquisition offer consists of cash and stock.
May 28, 2024
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