According to Cointelegraph, Bitcoin mining company Bitfarms appointed Fanny Philip as an independent director to prevent Riot Platforms' "hostile takeover".
Earlier news, Riot Platforms proposed to acquire all shares of Bitfarms at $2.30 per share, but withdrew the proposal due to difficulties in cooperating with the current board of directors. Riot currently holds 14.9% of Bitfarms' shares and tried to increase its shareholding to more than 15%, but was blocked by the board of directors. Philip's joining makes four members of the Bitfarms board of directors independent directors, and the three new directors proposed by Riot are completely independent of Riot and Bitfarms.
