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Crypto Biz: Riot Platforms and Bitfarms dispute escalates
14.6.2024
This week’s Crypto Biz explores the corporate battle between Riot Platforms and Bitfarms, Tether’s $1 billion budget for startups, Ripple Labs’ new custodian deal, and more
Bitfarms expands into Pennsylvania amid Riot’s growing stake
14.6.2024
Bitfarms announces U.S. expansion in Pennsylvania, while Riot Platforms increases its ownership stake in the company to 14%
Bitfarms deploys “Poison Pill” to block Riot Platforms takeover
13.6.2024
The Chief Executive Officer of Riot Platforms, Jason Les, has criticized Bitfarms’ move to block share purchases. Bitfarms has said it is potentially a hostile takeover, while Riot has defended its move by saying that its poison pill plan falls outside the traditional business norms....
Bitfarms pushes back against Riot’s $950M takeover attempt
13.6.2024
Riot's $950 million buyout offer is met with resistance as Bitfarms’ stakeholders and special committee deem it undervalued and not in shareholders’ best interests
Riot acquires 13% Bitfarms stake as CEO decries ‘poison pill‘ strategy
12.6.2024
Bitfarms’ stock price on the Nasdaq has increased more than 56% in the last 30 days amid Riot Platforms’ attempt at a takeover
Bitfarms adopts shareholder rights plan as Riot attempts takeover
10.6.2024
The plan, which passed after Bitfarms’ shareholder meeting, will complicate Riot’s effort but not necessarily stop it from succeeding
Bitfarms Adopts Defensive Measures Against Riot Platforms’ Takeover
10.6.2024
Bitfarms Ltd. has adopted a shareholder rights plan to protect the integrity of its ongoing Strategic Alternatives Review Process. This plan was unanimously approved by the Board and involves issuing rights to shareholders to prevent unwanted takeovers. Riot Platforms Inc., which owns 11.62%...
Bitfarms Sees 42% Revenue Drop in May Post-Bitcoin Halving
4.6.2024
Bitfarms, a Bitcoin mining firm, reported a 42% drop in crypto mining revenue in May, the first full month following the Bitcoin halving in mid-April, which reduced their Bitcoin production from 263 BTC in April to 156 BTC in May. The company attributed part of the decline in production...
Halving full effect: Bitfarms crypto mining revenue falls 42% in May
4.6.2024
The Bitcoin mining firm also blamed “unusually cold temperatures” at its Rio Cuarto facility in Argentina for the fall in Bitcoin production
Bitfarms Rejected $950 Million Riot Platforms’ Acquisition Proposal, Citing Undervaluation
29.5.2024
Bitfarms, a global Bitcoin mining company, has confirmed receiving and rejecting an acquisition proposal from Riot Platforms on April 22, 2024.
The post Bitfarms Rejected $950 Million Riot Platforms’ Acquisition Proposal, Citing Undervaluation appeared first on Cryptonews
Bitfarms Says Riot Bid 'Significantly Undervalues' Crypto Miner, Is Exploring Options
29.5.2024
Riot to acquire Bitfarms to establish the largest public Bitcoin miner
29.5.2024
Riot intends to take over Bitfarms at a price of $2.30 per share, with the goal of creating the largest ever publicly registered Bitcoin miner. The result will be a substantial premium on Bitfarm’s price—24%—which will be a boon to shareholders. Riot is presently the biggest shareholder...
Riot Platforms Buys 9.25% Stake in Bitfarms After Rejected Takeover Offer
29.5.2024
Riot Platforms has acquired a 9.25% stake in Bitfarms after its $950 million proposal to buy out the company's outstanding stock at $2.30 per share was rejected.
The post Riot Platforms Buys 9.25% Stake in Bitfarms After Rejected Takeover Offer appeared first on Cryptonews
Riot Proposes Acquisition of Bitfarms to ‘Create the World’s Largest Publicly Listed Bitcoin Miner’
29.5.2024
Riot Platforms has announced a proposal to acquire Bitfarms to create “the world’s largest publicly listed bitcoin miner.” This offer includes cash and Riot stock, representing a 24% premium. Despite the initial rejection from Bitfarms’ Board, the proposal will be directly...
Riot Platforms proposes $950M buyout for Bitfarms amid CEO dispute
28.5.2024
The hostile offer comes after a private offer to the board was rejected in April
Riot Plans Hostile Takeover of Bitfarms; Proposes $2.30 Per Share
28.5.2024
Bitfarms' shares were up nearly 6% at $2.13 as of 14:00 UTC following Riot's announcement
Latam Insights: El Salvador Embraces Geothermal Bitcoin Mining, Bitfarms Expands Its Capacity in Paraguay
20.5.2024
Welcome to Latam Insights, a compendium of Latin America’s most relevant crypto and economic news during the last week. In this issue: El Salvador produced nearly 474 bitcoin using geothermal energy, Bitfarms expanded the capacity of its Paraguayan bitcoin mining facility, and Bitso launched...
Bitfarms Terminates CEO Geoffrey Morphy, Faces $27 Million Lawsuit
16.5.2024
Bitfarms Ltd., a global bitcoin mining company, has announced the immediate termination of Geoffrey Morphy as president and CEO, along with his removal as a director. Following his dismissal, Morphy filed a lawsuit against the company, seeking $27 million in damages for alleged breach of contract...
Bitcoin Miner Bitfarms Enhances Paraguay Facility With New 100 MW Hydropower Deal
14.5.2024
On Tuesday, bitcoin mining company Bitfarms, listed on the Nasdaq and Toronto Stock Exchange (TSX), announced it has secured an additional 100 megawatts (MW) of power from Paraguay’s state-owned utility firm, ANDE. The 100 MW is anticipated to double the capacity of the hydro-powered Yguazu...
Bitfarms Fires CEO Geoffrey Morphy Following $27 Million Lawsuit
13.5.2024
Bitfarms has ousted its CEO Geoffrey Morphy after he filed a $27 million lawsuit against the Bitcoin miner, the Toronto-based firm announced Monday. News of Morphy's ousting comes amidst decreased Bitcoin production values for public crypto mining companies following last month's halving event.
The...