Bitget App
Trade smarter
Buy cryptoMarketsTradeFuturesCopyBotsEarn
Bitfarms Delays Shareholder Meeting in Response to Riot’s Request

Bitfarms Delays Shareholder Meeting in Response to Riot’s Request

CryptotimesCryptotimes2024/09/10 00:18
By:Iyiola Adrian

Bitfarms has pushed back its shareholder meeting from October 29 to November 6 in response to Riot Platforms’s request to change its board of directors.

Riot Platforms previously tried to acquire Bitfarms earlier this year for $950 million, but the offer was declined. Following this, Riot requested a special meeting to propose adjustments to Bitfarms’ board. The company currently holds a 19.9% stake in Bitfarms.

However, Bitfarms has decided to reschedule the meeting to allow it’s Special Committee more time to review and address Riot’s request according to a press release .

The company believes that its current board is acting in the best interest of all shareholders and claims that Riot’s focus is primarily on its own interests rather than those of Bitfarms.

Among the proposals to be considered at the rescheduled meeting is the idea of increasing the number of board members from five to six.

The dispute between Bitfarms and Riot Platforms has been a prolonged and intricate one with both companies engaging in various strategic moves.

Recently, Bitfarms announced its plans to acquire Stronghold Digital , adding another layer to the ongoing conflict.

Follow The Crypto Times on Google News to Stay Updated!
0

Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.

PoolX: Locked for new tokens.
APR up to 10%. Always on, always get airdrop.
Lock now!

You may also like

Elon Musk’s D.O.G.E to shut down CFPB after success with USAID termination

Share link:In this post: Elon Musk’s DOGE team stormed the CFPB, gaining access to key internal systems as part of a broader plan to shut down the agency. Treasury Secretary Scott Bessent shut down CFPB communications after Elon’s operatives arrived, following Trump’s firing of its former director. DOGE already dismantled USAID, putting thousands of employees on leave and cutting $250 million in federal contracts across 35 agencies.

Cryptopolitan2025/02/08 20:44

AI compute cannot create a new class system

Cointelegraph2025/02/08 20:33

Arbitrum’s Balancer V3 is now live

Optimisus2025/02/08 20:11