🚀Bitfarms is going full defense mode against Riot Platforms' unsolicited takeover bid! They've activated a 'poison pill' strategy, aiming to keep control by making the deal too pricey for Riot.🛡️

• The plan? Issue new stock to existing shareholders, diluting the stake of any hostile takeover attempts.

• The catch? Any entity acquiring 15% or more of Bitfarms' shares must comply with the plan's "Permitted Bid" provisions.

Riot, who made their takeover intentions public in May, already owns about 12% of Bitfarms. They initially offered $2.30 per share, which Bitfarms rejected, saying it undervalued the company.

The Toronto Stock Exchange (TSX) will hold off on considering the Rights Plan until it's sure the appropriate securities commission won't intervene.

Your thoughts? Is Bitfarms' strategy a smart move or will Riot find a way around it? Let's chat below!👇 #DeFi #Web3