bitfarms

Months after Riot’s so-called hostile takeover bid of Bitfarms, the two bitcoin miners forge an agreement

Riot Platforms is attempting to acquire Bitfarms at a discounted price, the company alleged in a Wednesday statement

Bitfarms should not enter into any transaction before its October shareholder meeting, Riot says in an open letter

The Canadian company hopes to reach 950 megawatts of power capacity by the end of 2025 via its deal with New York-based Stronghold Digital Mining

Riot Platforms, which owns 16.9% of Bitfarms’ stock, previously called for a vote to replace Nicolas Bonta with another board director

Riot Platforms called for the meeting after seeking to acquire Bitfarms via a deal the company ultimately rejected

The promotion of Ben Gagnon comes after Riot called a shareholder meeting to try to remove members of Bitfarms’ board

Colorado-based miner is still “completely committed to pursuing a transaction” with its Canadian competitor after deal rejection

The company is making public a previously private offer rejected by Bitfarms’ board of directors last month

Marathon Digital, Riot Platforms, CleanSpark and Bitfarms have all released their monthly mining reports for July

Bitfarms, founded in 2017, is set to construct two more mining facilities powered by hydroelectricity in Paraguay

More miner suffering is likely to be had before more bankruptcies, consolidation, analysts say

Cryptocurrency mining outfit Bitfarms has sold almost half its bitcoins — 3,000 BTC, worth $62 million — over the past week, formally ending its “hodling” strategy