Riot Platforms raises Bitfarms stake to 14%, buys another $3.87 million worth of shares | Headlines | News | CoinMarketCap
06/14/2024 07:54
Early Thursday evening, bitcoin miner Riot Platforms said it acquired another 1,432,063 shares of Bitfarms for about $2.70 per share, or about $3.87 …
Early Thursday evening, bitcoin miner Riot Platforms said it acquired another 1,432,063 shares of Bitfarms for about $2.70 per share, or about $3.87 million.
Riot now owns 57.62 million shares of Bitfarms, or about 14%. This is the latest step in Riot's attempted hostile takeover of Bitfarms.
Last month, Riot Platforms attempted to acquire Bitfarms for roughly $950 million. On Wednesday, Riot Platforms’ CEO criticized Bitfarms’ latest plans to block a takeover.
“Instead of engaging with us privately and in good faith, Bitfarms has responded by implementing an off-market Poison Pill with a trigger well below the customary 20% threshold,” Riot Platforms CEO Jason Les said in a statement.
Earlier this week, Bitfarms adopted a "poison pill" to prevent a possible takeover. A poison …