📰 Analysts from H.C. Wainwright speculate that Riot's attempt to acquire Bitfarms will be rejected due to disapproval from Bitfarms' board of directors and an insufficient premium.

🔹 Riot offered $2.3 per Bitfarms share, valuing the deal at $950 million. However, the Bitfarms board of directors quickly rejected the offer without engaging in significant dialogue.

🔹 Riot intends to request a special meeting of Bitfarms shareholders at its annual meeting of shareholders on Friday to discuss the appointment of new independent directors.

🔹 Riot is confident in the success of the deal and is ready to implement it. As of April 30, the company had more than $700 million in cash and 8,872 unpledged bitcoins.

What do you think about this deal? 💭👇