🚀 Bitcoin miner Riot Platforms (RIOT) is shaking things up! After dropping its proposal to buy Bitfarms (BITF), Riot is now looking to overhaul Bitfarms' board before making any further takeover attempts.

Riot, Bitfarms' largest shareholder with a 14.9% stake, is nominating new board members and calling for a special meeting to remove Bitfarms' current leadership. This comes after Bitfarms swiftly rejected Riot's $2.30 per share buyout offer last month.

Despite the rejection, Riot is still keen on the takeover, believing that a combination would create the world's largest publicly listed bitcoin miner. 🌐

Bitfarms shares fell more than 6% on Monday, but are still trading above the buyout offer, hinting that traders may still see BITF as a potential takeover target. Meanwhile, Riot shares dipped slightly as Bitcoin fell 3% in the last 24 hours.

What do you think about this power move by Riot? Will they succeed in their takeover bid? Let's discuss! #CryptoNews #BitcoinMiner