Bold

Canadian crypto mining firm, Bitfarms has turned down a buyout offer from Riot Platforms, marking it as insufficient. Riot Platforms recently proposed a purchase of Bitfarms’ shares at $2.30 each. Bitfarm believes this value grossly underestimates its potential and prospects. 
“In order to advance discussions with Riot in a meaningful manner, the committee requested customary confidentiality and non-solicitation protections to which Riot did not respond.” 
Bitfarm also stated it has received additional unsolicited expressions of interest from other parties. 
Exploring Further Options 
Bitfarms has also <a href="https://investor.bitfarms.com/news-events/press-releases/detail/243/bitfarms-responds-to-unsolicited-proposal-from-riot" target="_blank" rel="noreferrer noopener nofollow">engaged</a> Moelis, a noted investment bank, to explore additional interests it has received from other entities. This move underscores the company’s search for better value recognition amidst growing interest from various quarters.&nbsp; 
As the situation evolves, Bitfarms remains a key player in the global cryptocurrency sector, and investors and industry analysts closely monitor its strategic decisions. 
<blockquote class="wp-block-quote is-layout-flow wp-block-quote-is-layout-flow"> 
 Also Read: <a href="https://www.cryptotimes.io/2024/05/28/riot-platforms-makes-bold-bid-to-acquire-bitfarms/" target="_blank" rel="noreferrer noopener">Riot Platforms Makes Bold Bid to Acquire Bitfarms</a> 
</blockquote>

Bitfarms Rejects Takeover Proposal from Riot Platforms

The Crypto Times

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