In response to a governance challenge from <a href="https://ultramining.com/news/en/riot-platforms-to-boost-efficiency-with-midas-immersion-coolings/" rel="noopener noreferrer nofollow">Riot</a> Platforms, <a href="https://ultramining.com/news/en/bitfarms-set-to-boost-mining-capacity-with-quebec-expansion/" rel="noopener noreferrer nofollow">Bitfarms</a> has proposed increasing its board size to six members, adding one mutually agreed nominee. Riot, which owns nearly 20% of Bitfarms' shares, has been pushing for more oversight and governance reforms as part of its broader strategy to influence the company's future direction.
The proposal is part of ongoing negotiations to avoid a proxy contest, which could be both costly and distracting for Bitfarms. As the special shareholder meeting approaches, the outcome of these discussions will have long-term implications for the company’s governance and future growth.
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Bitfarms Proposes Expanding Board to Six Members in Response to Riot Platforms’ Requisition

Ultramining_Eng

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