Crypto Miner Truce Leaves Open the Possibility of Riot Taking Over Bitfarms [Financial Post (Toronto, Ontario, Canada)]
Bitfarms Ltd. (BITF)
Company Research
Source: Financial Post
Author of the article: You can save this article by registering for free here . Or sign-in if you have an account. (Bloomberg) — While Bitcoin miner Bitfarms Ltd. has brokered a truce with Riot Platforms Inc. over a months-long takeover fight, the agreement still leaves open the possibility for an acquisition. Under an pact unveiled Monday, Bitfarms' Andrés Finkielsztain has stepped down from its board and been replaced by a Riot-backed nominee. Riot agreed that, during the term of the agreement, it will not acquire over 20% or more of the company without the approval of the board, “other than for the sole purpose of or in connection with making a take-over bid,” according to a filing with the Canadian government. “The agreement still leaves the door open for future possibilities, should Riot wish to revisit the idea of a takeover under more favorable conditions,” said Matthew Kimmell, digital asset analyst at CoinShares. A spokesperson for Castle Rock, Colorado-based Rio
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BITF
News
- Bitfarms Ltd. (NASDAQ: BITF) had its "buy" rating re-affirmed by analysts at HC Wainwright. They now have a $4.00 price target on the stock.MarketBeat
- Bitfarms reaches agreement with Riot, Freedman appointed to board [Yahoo! Finance Canada]Yahoo! Finance Canada
- Bitfarms reaches agreement with Riot, Freedman appointed to board [Yahoo! Finance]Yahoo! Finance
- Bitfarms agrees to board changes in settlement with Riot Platforms [Seeking Alpha]Seeking Alpha
- Bitfarms and Riot Announce Settlement [Financial Post (Toronto, Ontario, Canada)]Financial Post
BITF
Sec Filings
- 9/24/24 - Form 144
- 9/23/24 - Form 6-K
- 9/23/24 - Form 6-K
- BITF's page on the SEC website