Riot Platforms and Bitfarms Engage in High-Stakes Battle Over Bitcoin Mining

Two publicly traded bitcoin mining operators, Riot Platforms and Bitfarms, have been locked in a contentious struggle. After Bitfarms rejected a merger proposal from Riot, Riot launched an activist campaign to influence Bitfarms' corporate governance by proposing new board members and criticizing its leadership issues.

This battle highlights differing strategies post-bitcoin halving, as companies merge, expand, or diversify into AI data centers to maximize shareholder value.

- Riot has amassed a nearly 15% stake in Bitfarms and is campaigning to "fix Bitfarms' broken corporate governance."

- Bitfarms has adopted a poison pill strategy to prevent Riot from taking over.

https://www.axios.com/2024/07/10/riot-platforms-bitfarms-merger-battle