According to Foresight News, Reuters reported that Bitcoin mining company Bitfarms has approved the adoption of a "poison pill" plan to prevent potential hostile takeover attempts by Riot Platforms. Shareholder rights plans, also known as "poison pill plans," are used by company boards to prevent hostile takeovers. Bitfarms said the rights plan must be approved by shareholders within six months of its passage, otherwise the plan will terminate. According to Bitfarms' plan, if an entity accumulates more than 15% of Bitfarms' shares after June 20 and until September 10, the company will issue new shares to dilute the entity's shares.

Foresight News previously reported that according to Reuters, Bitcoin mining company Riot Platforms has acquired a 12% stake in Bitfarms. Riot Platforms said it purchased approximately 1.5 million shares of Bitfarms at a price of approximately $2.45 per share. Prior to the acquisition, the company actually owned approximately 11.63% of Bitfarms' shares. "Due to concerns about Bitfarms' corporate governance, a special shareholders meeting is planned to add independent directors to the Bitfarms board of directors."