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International Business Times

Business

Marvie Basilan

Bitfarms Settles Takeover Row With Riot Platforms, Co-founder Departs

Bitfarms Riot Riot Platforms Bitcoin

Riot Platforms and its subsidiaries operate as a Bitcoin mining company. (Credit: Riot Platforms Twitter Video/Screenshot)

KEY POINTS

Bitfarms co-founder Andres Finkielsztain has left the board as part of the agreement
Riot has agreed to withdraw its June requisition until Bitfarms' 2026 annual meeting 'with certain exceptions'
Riot first offered an unsolicited bid of $950M to acquire Bitfarms, which the latter rejected over supposed undervaluation

Toronto-based Bitcoin miner Bitfarms reached a settlement with Riot Platforms over Colorado-based Riot's hostile bid to take over Bitfarms, its Canadian rival. According to the deal announced on Monday, Bitfarms co-founder Andres Finkielsztain has left the board.

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