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Riot Platforms Boosts Bitfarms Stake with Additional Share Acquisition

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Riot Platforms has announced the purchase of an additional 1,432,063 shares of Bitfarms. The acquisition, completed on June 10 at approximately $2.7 per share, represents an investment of around $3.87 million.is part of Riot’s ongoing takeover attempt of Bitfarms. Last month, Riot made a bid to acquire Bitfarms for roughly $950 million. On May 28, Riota 9.25% stake, marking it the company’s largest shareholder. Riot further expanded its stake by purchasing an additional 1.

Les further accused the Bitfarms Board of entrenchment and neglecting shareholder interests, referencing the recent removal of company co-founder Emiliano Grodzki by shareholders less than two weeks ago.

 

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