Riot Platforms has acquired a 13.1% stake in Bitfarms, purchasing shares worth over $111 million. This move has prompted Bitfarms to adopt a "poison pill" defense strategy, preventing Riot from gaining a 15% or higher stake without severe dilution. Riot CEO Jason Les criticized Bitfarms' approach, claiming it conflicts with legal standards. Despite the tension, Bitfarms' stock has surged by 56% in the past month. The ongoing dispute underscores the complexities and strategic maneuvers in corporate acquisitions within the cryptocurrency mining sector.
Disclaimer: Please note that the information provided in this article is based on the referenced research articles. It is essential to conduct further research and analysis before making any investment decisions. The cryptocurrency market is highly volatile, and investors should exercise caution and consult with financial professionals before engaging in cryptocurrency trading or investment activities.
