According to Foresight News, Bitcoin mining company Bitfarms has appointed Fanny Philip as an independent director to prevent a hostile takeover by Riot Platforms. Previously, Riot Platforms had 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 attempted to increase its shareholding ratio to over 15%, but was blocked by the board of directors. The addition of Philip has resulted in four independent directors on the Bitfarms board, completely independent of Riot and Bitfarms, as opposed to the three new directors proposed by Riot.