Bitfarms Delays Shareholder Meeting Amidst Riot Acquisition Dispute
CryptoNewsTerminal Staff10 Sep, 2024
Bitfarms Delays Shareholder Meeting Amidst Riot Acquisition Dispute
Amidst an ongoing management dispute, American bitcoin miner Bitfarms has postponed its special shareholder meeting to review Riot Platform's acquisition strategy. Riot, which holds a 12% stake in Bitfarms, has been pursuing the acquisition since May. However, Bitfarms has resisted the takeover and issued new shares to block it. The company maintains that the proposed transaction is not in the best interests of shareholders. The adjournment of the meeting will allow Bitfarms to further assess the long-term implications of the acquisition.
