Summary by Futu AI
On July 24, 2024, Bitfarms Ltd., a global Bitcoin data center company, responded to the Capital Markets Tribunal of the Ontario Securities Commission's decision to cease trade the company's shareholder rights plan. The Tribunal's decision came after hearings on July 22 and 23, 2024. Subsequently, Bitfarms' Board, with the unanimous recommendation of its independent Special Committee, approved a new shareholder rights plan to ensure fair and equal treatment of all shareholders in the event of an unsolicited take-over bid or other acquisition of control. The new plan is designed to protect against 'creeping bids' and is not in response to any specific proposal to acquire control of Bitfarms. However, the company is aware of Riot Platforms, Inc.'s intention to replace...Show More