According to TechFlow, Bitcoin mining company Bitfarms appointed Fanny Philip as an independent director to prevent a "hostile takeover" by Riot Platforms. Riot Platforms previously proposed to acquire all of Bitfarms' shares 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, while the three new directors proposed by Riot are completely independent of Riot and Bitfarms.