According to ChainCatcher, Bitcoin mining company Bitfarms is adopting a "poison pill" strategy to prevent acquisitions by peers and competitors Riot Platforms.

It is reported that equity dilution anti-takeover measures, also known as "poison pill plans", are measures taken to prevent companies from being acquired unsolicited and try to reduce their attractiveness. Bitfarms said that the plan has been approved by the board of directors and is "designed to maintain the integrity of its previously announced strategic alternative review process and is in the best interests of shareholders."

Previously, Riot Platforms has accumulated 12% of Bitfarms' shares in the past few weeks, trying to build one of the world's largest Bitcoin mining companies.