Riot Platforms, Inc., a Nevada-based corporation, has filed an amendment to its Schedule 13D, reporting a significant ownership stake in Bitfarms Ltd., a Canadian company. The amendment, dated June 24, 2024, indicates that Riot Platforms now owns approximately 14.9% of Bitfarms' common shares, with an aggregate purchase price of $132,162,323, funded from Riot's working capital. On the same date, Riot Platforms issued a Requisition Letter to Bitfarms' board of directors, requesting a special meeting of shareholders to elect new independent board members. Additionally, Riot Platforms has withdrawn its previous proposal to acquire Bitfarms at $2.30 per share and is seeking to cease-trade the shareholder rights plan, commonly referred to as a 'Poison Pill', adopted by Bitfarms on June 10, 2024. Riot Platforms has also announced its intention to engage with the reconstituted board regarding a potential business combination.

Riot Platforms, Inc., a Nevada-based corporation, has filed an amendment to its Schedule 13D, reporting a significant ownership stake in Bitfarms Ltd., a Canadian company. The amendment, dated June 24, 2024, indicates that Riot Platforms now owns approximately 14.9% of Bitfarms' common shares, with an aggregate purchase price of $132,162,323, funded from Riot's working capital. On the same date, Riot Platforms issued a Requisition Letter to Bitfarms' board of directors, requesting a special meeting of shareholders to elect new independent board members. Additionally, Riot Platforms has withdrawn its previous proposal to acquire Bitfarms at $2.30 per share and is seeking to cease-trade the shareholder rights plan, commonly referred to as a 'Poison Pill', adopted by Bitfarms on June 10, 2024. Riot Platforms has also announced its intention to engage with the reconstituted board regarding a potential business combination.