Bitcoin mining companies Bitfarms and Riot Platforms have settled their governance conflict. Andrés Finkielsztain will step down from Bitfarms’ board, with Amy Freedman joining. Riot Platforms will not pursue further hostile actions towards Bitfarms until 2026. Bitfarms will add a sixth board member pending shareholder approval by Nov. 20, 2024. The dispute began in May 2024 when Riot proposed a $950 million buyout, which Bitfarms rejected. Riot then increased its stake to 15%, leading to a 'poison pill' defense by Bitfarms. Riot purchased more shares, reaching an 18.9% stake, and pushed for board changes. The conflict also involved former CEO Geoffrey Morphy suing Bitfarms for $27 million. The resolution ends with a standstill agreement and upcoming shareholder meeting decisions. Read more AI-generated news on: https://app.chaingpt.org/news