On September 23, 2024, Bitfarms Ltd., a global leader in Bitcoin data center operations, and Riot Platforms Inc., a key player in Bitcoin mining, announced a settlement agreement ahead of Bitfarms' Special Meeting scheduled for November 6, 2024. As part of the agreement, Andrés Finkielsztain resigned from Bitfarms' Board of Directors, and Amy Freedman was appointed to the Board and its committees. Riot withdrew its previous requisition and agreed to a standstill through the 2026 Annual Meeting. Shareholders will vote on expanding the Board and ratifying a shareholder rights plan at the rescheduled Special Meeting, which Riot has agreed to support. The agreement also grants Riot certain rights to purchase shares, contingent on holding at least 15% of Bitfarms' outstanding common shares. The settlement may...Show More

On September 23, 2024, Bitfarms Ltd., a global leader in Bitcoin data center operations, and Riot Platforms Inc., a key player in Bitcoin mining, announced a settlement agreement ahead of Bitfarms' Special Meeting scheduled for November 6, 2024. As part of the agreement, Andrés Finkielsztain resigned from Bitfarms' Board of Directors, and Amy Freedman was appointed to the Board and its committees. Riot withdrew its previous requisition and agreed to a standstill through the 2026 Annual Meeting. Shareholders will vote on expanding the Board and ratifying a shareholder rights plan at the rescheduled Special Meeting, which Riot has agreed to support. The agreement also grants Riot certain rights to purchase shares, contingent on holding at least 15% of Bitfarms' outstanding common shares. The settlement may delay the Special Meeting, but it will occur no later than November 20, 2024. Bitfarms' CEO Ben Gagnon expressed optimism about focusing on the company's growth strategy, while Riot's CEO Jason Les acknowledged the agreement's potential to enhance shareholder value. The settlement details will be filed with the SEC and available on SEDAR+.