Riot criticizes Bitfarms’ acquisition proposal, board changes

Riot Platforms has once again publicly criticized fellow bitcoin miner Bitfarms — this time questioning its latest proposed acquisition and board of directors adjustments.

In an open letter Tuesday, Riot called for Bitfarms to halt its strategic actions ahead of a shareholder meeting slated for late October.

“Specifically, the Bitfarms board should not enter into any financing transaction prior to the completion of the special meeting,” the company said in a Tuesday release. “Riot is deeply concerned that any transaction the current Bitfarms Board will pursue will be punitively dilutive to all Bitfarms’ shareholders when there are other more attractive financing options…

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