On June 12, 2024, Bitfarms Ltd., a global Bitcoin mining company, responded to Riot Platforms, Inc.'s attempts to disrupt Bitfarms' ongoing Strategic Alternatives Review Process. Bitfarms' Board of Directors and management team, after receiving multiple unsolicited expressions of interest including a proposal from Riot, formed a Special Committee to evaluate these proposals. The Committee concluded that Riot's proposal significantly undervalued Bitfarms and was not in the best interests of shareholders. Despite welcoming Riot's participation in the review process, Riot declined and instead continued to acquire Bitfarms' shares in the open market, which Bitfarms views as an attempt to undermine the process. Bitfarms has adopted a Shareholder Rights Plan to preserve the integrity of the review process and continues to work towards maximizing shareholder value. Moelis & Company LLC and several law firms are advising Bitfarms during this process.

On June 12, 2024, Bitfarms Ltd., a global Bitcoin mining company, responded to Riot Platforms, Inc.'s attempts to disrupt Bitfarms' ongoing Strategic Alternatives Review Process. Bitfarms' Board of Directors and management team, after receiving multiple unsolicited expressions of interest including a proposal from Riot, formed a Special Committee to evaluate these proposals. The Committee concluded that Riot's proposal significantly undervalued Bitfarms and was not in the best interests of shareholders. Despite welcoming Riot's participation in the review process, Riot declined and instead continued to acquire Bitfarms' shares in the open market, which Bitfarms views as an attempt to undermine the process. Bitfarms has adopted a Shareholder Rights Plan to preserve the integrity of the review process and continues to work towards maximizing shareholder value. Moelis & Company LLC and several law firms are advising Bitfarms during this process.