Bitfarms Poison Pill Update: Company Tries to Thwart Riot Platforms Merger

IconCryptoNewsTerminal Staff25 Jul, 2024

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Bitfarms Poison Pill Update: Company Tries to Thwart Riot Platforms Merger

Bitfarms, a publicly traded cryptocurrency mining company, has adopted a revised poison pill plan as it attempts to fend off a hostile takeover bid from rival miner Riot Platforms, according to a recent report from The Block. The new poison pill plan, which has been met with resistance from Riot Platforms, still requires approval from the Toronto Stock Exchange. It is possible that Riot Platforms may once again request that Canadian authorities intervene to halt the plan, as they did with Bitfarms' previous poison pill. This ongoing takeover battle highlights the competitiveness of the cryptocurrency mining industry, as companies seek to consolidate their positions amidst market fluctuations.

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