Riot withdraws acquisition proposal for Bitfarms, demands restructuring of Bitfarms' board

ChainCatcher news, Bitcoin mining and infrastructure company Riot has requested a special meeting of Bitfarms shareholders to restructure the Bitfarms board of directors and nominate three independent directors. Riot currently owns approximately 14.9% of Bitfarms' shares, making it the largest shareholder of Bitfarms. Riot has withdrawn its acquisition proposal of $2.30 per share and is prepared to engage in discussions and negotiations with the restructured Bitfarms board of directors.