According to ChainCatcher, Bitcoin mining company Bitfarms rejected Riot Platforms' acquisition proposal. The company wrote in a press release, "Riot clearly underestimated the company and its growth prospects." Bitfarms claimed that Riot did not respond to its request for confidentiality and non-solicitation protection, and Bitfarms' special committee is still determining the company's next best development path.

Bitfarms said in a statement: "After receiving additional unsolicited expressions of interest, each new party has signed a customary confidentiality agreement and the Special Committee is conducting a thorough review of strategic alternatives to ensure that shareholder value is maximized. These alternatives may include continuing to execute the company's business plan, strategic business combinations or other strategic transactions, or selling the company."

Earlier news, Canadian Bitcoin mining company Bitfarms responded to Riot Platforms' unsolicited acquisition proposal, namely Riot intends to acquire 100% of Bitfarms' common shares at a price of US$2.30 per common share, including cash and Riot common shares.