Riot Platforms and Bitfarms Engage in High-Stakes Battle Over Bitcoin Mining
Two publicly traded bitcoin mining operators, Riot Platforms and Bitfarms, have been locked in a contentious struggle. After Bitfarms rejected a merger proposal from Riot, Riot launched an activist campaign to influence Bitfarms' corporate governance by proposing new board members and criticizing its leadership issues.
This battle highlights differing strategies post-bitcoin halving, as companies merge, expand, or diversify into AI data centers to maximize shareholder value.
- Riot has amassed a nearly 15% stake in Bitfarms and is campaigning to "fix Bitfarms' broken corporate governance."
- Bitfarms has adopted a poison pill strategy to prevent Riot from taking over.
https://www.axios.com/2024/07/10/riot-platforms-bitfarms-merger-battle
Bitcoin /
npub1dw…ds9g9
2024-07-10 18:44:06
Author Public Key
npub1dwegu7taqadap2pzw6dszulc6r7gwmldawjpdrersuykxxlyzfeskds9g9Published at
2024-07-10 18:44:06Event JSON
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"content": "Riot Platforms and Bitfarms Engage in High-Stakes Battle Over Bitcoin Mining\n\nTwo publicly traded bitcoin mining operators, Riot Platforms and Bitfarms, have been locked in a contentious struggle. After Bitfarms rejected a merger proposal from Riot, Riot launched an activist campaign to influence Bitfarms' corporate governance by proposing new board members and criticizing its leadership issues.\n\nThis battle highlights differing strategies post-bitcoin halving, as companies merge, expand, or diversify into AI data centers to maximize shareholder value.\n\n - Riot has amassed a nearly 15% stake in Bitfarms and is campaigning to \"fix Bitfarms' broken corporate governance.\"\n \n - Bitfarms has adopted a poison pill strategy to prevent Riot from taking over.\n\nhttps://www.axios.com/2024/07/10/riot-platforms-bitfarms-merger-battle",
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