Riot Platforms Drops Bitfarms Takeover Bid, Seeks Board Overhaul
Bitcoin miner Riot Platforms has withdrawn its proposal to acquire Bitfarms and is now seeking to overhaul the board before making any further takeover attempts. Riot, which owns 14.9% of Bitfarms, is nominating three new board members to replace the current ones. The hostile takeover bid was made public last month when Riot offered to buy Bitfarms for $2.30 per share, which was quickly rejected.
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