According to Odaily, Riot Platforms has proposed a comprehensive plan to improve Bitfarms Ltd. and has launched a website to detail this strategy. As part of its efforts to acquire Bitfarms, Riot has convened a special shareholders' meeting, nominating three new directors: John Delaney, Amy Freedman, and Ralph Goehring. The proposal includes the dismissal of current Chairman Nicolas Bonta and directors Andrés Finkielsztain and Fanny Philip, who was recently appointed after the resignation of co-founder Emiliano Grodzki. Riot emphasized the need for new perspectives to drive Bitfarms' growth and strategic direction.
In previous news from June, Bitcoin mining company Riot Platforms abandoned the acquisition of Bitfarms (BITF) and hoped to reorganize the board before further acquisitions. Riot is now the largest shareholder of Bitfarms, holding 14.9% of the company's shares. The company held a special meeting to dismiss Bitfarms Chairman and interim CEO Nicolas Bonta, director Andrés Finkielsztain, and anyone who might fill the vacancy left by the resignation of co-founder Emiliano Grodzki. Meanwhile, Riot stated that it will continue to seek acquisitions because it is 'beneficial for long-term corporate growth'.