Platforms and Bitfarms have announced an agreement on the hostile takeover bid. After months of intense negotiations, the companies reached a compromise that affects investors with $180 million at stake. Riot now owns 19.9% of Bitfarms' shares, representing a significant portion of the company's business.
Under the terms of the agreement, Riot has agreed to withdraw its request for a special shareholder meeting scheduled for November 6, 2024. Bitfarms will expand its board of directors from 5 to 6 members, allowing for better representation of the interests of all shareholders.
Disclaimer: This does not constitute financial advice! Always invest wisely and consult a financial advisor before making any decisions. Disclaimer: This does not constitute financial advice! Always invest wisely and consult a financial advisor before making any decisions.
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