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CoinOtag 2024-06-24 14:48:46

Riot Platforms Withdraws $950M Bid for Bitfarms, Seeks Board Seats for Governance Reform

The crypto mining sector is abuzz as Riot Platforms retracts its $950 million bid to acquire Bitfarms, turning instead to governance reformation. Amid contentious takeover strategies, Riot nominates three candidates for Bitfarms’ board to catalyze merger discussions. Bitfarms enacts a poison pill strategy following Riot’s increased stake in the company, highlighting significant corporate governance challenges.

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