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Announced

Riot Platforms terminated the acquisition of Bitfarms for $950m.

Synopsis

Riot Platforms, a Bitcoin mining and digital infrastructure company, terminated the acquisition of Bitfarms, a global Bitcoin mining company, for $950m. "Bitfarms has made unwarranted and highly negative attacks against Riot and sought to falsely call into question Riot’s intentions and objectives. Even after the adoption of the off-market poison pill, Riot offered the Bitfarms Board an opportunity to avoid the Special Meeting by jointly refreshing the Bitfarms Board. Bitfarms rejected this olive branch. This pattern of behavior reinforces the entrenched mentality of the current Bitfarms Board and its unwillingness to act in the best interests of all Bitfarms shareholders," Riot.

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