Riot Platforms has come up with a comprehensive plan to improve Bitfarms Ltd. and launched a website detailing the strategy.

As part of its efforts to acquire Bitfarms, Riot has called an extraordinary general meeting to nominate three new directors: John Delaney, Amy Freedman, and Ralph Goehring. The proposal includes the removal of current chairman Nicolas Bonta as well as directors Andrés Finkielsztain and Fanny Philip, the latter of whom was recently appointed following the resignation of co-founder Emiliano Grodzki.

Riot emphasizes the need for new perspectives to drive growth and strategic direction for Bitfarms. (Bitcoin.com)

Earlier in June, it was reported that Bitcoin mining company Riot Platforms gave up the acquisition of Bitfarms (BITF) and hoped to reorganize the board of directors before further acquisitions. Riot is now the largest shareholder of Bitfarms, owning 14.9% of the company's shares. The company held a special meeting to remove Bitfarms chairman and interim CEO Nicolas Bonta, director Andrés Finkielsztain and anyone who might fill the vacancy left by the resignation of co-founder Emiliano Grodzki. At the same time, Riot said it would continue to seek acquisitions because it is "conducive to the long-term growth of the company." #zachxbt