Bitfarms plays defense as rival Riot still eyes takeover

Bitfarms is looking to ward off an attempt by Riot Platforms to take control of the company — at least in the near-term. 

The bitcoin miner rejected Riot’s unsolicited April bid to buy the company, noting in a statement last month that the deal “significantly undervalues” Bitfarms. 

Bitfarms said its board of directors was in the midst of a “strategic alternatives review process,” which includes evaluating options such as continuing to execute its business plan or selling the company.

Riot has declined to participate in Bitfarms’ review process in an attempt to “undermine” it and “thwart the interest of third parties,” Bitfarms claims.

A Riot spokesperson did not…

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