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International Business Times

Business

Marvie Basilan

Bitfarms Announces 'Poison Pill' To Block Potential Riot Platforms Hostile Takeover

Bitfarms Riot Riot Platforms Bitcoin Mining Company Kerrisdale Capital

Bitfarms rejected Riot Platforms' acquisition proposal, saying $950 million was an undervaluation. (Credit: Bitfarms Website/Screenshot)

KEY POINTS

Bitfarms said it believes the proposed acquisition amount was undervaluing the company
Riot said it is concerned about the recent legal issues between Bitfarms and its former CEO
Riot was recently shorted by Kerrisdale Capital, which said the miner is headed for a 'collapse'

Bitcoin mining firm Bitfarms has announced it will adopt a shareholder rights plan, also called a "poison pill," in a bid to prevent the potential hostile takeover as proposed by Bitcoin mining titan Riot Platforms.

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FL Declares Emergency in 25 Counties as Gulf Depression Could Become Season's First Hurricane, Residents Warned

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‘Not exactly his favorite senator’: Susan Collins distances herself from Trump in Maine debate

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One subscription that gives you access to news from hundreds of sites

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‘Not exactly his favorite senator’: Susan Collins distances herself from Trump in Maine debate

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