🚨 Breaking News 🚨
In a dramatic twist, Bitfarms has fired back at Riot Platforms, accusing them of self-interest in a heated board dispute. The conflict has escalated as Bitfarms claims Riot’s true motive is to acquire Bitfarms at a discounted price, benefiting Riot’s shareholders rather than Bitfarms’ own.
The Battle Unfolds:
Bitfarms’ Stand: Bitfarms asserts that Riot’s criticisms are misleading and aimed at undermining Bitfarms’ initiatives, such as the acquisition of Stronghold Digital Mining1.Riot’s Response: Riot Platforms has framed their actions as efforts to improve corporate governance at Bitfarms. However, Bitfarms argues that Riot’s real goal is to take over the company cheaply1.Leadership Changes: Bitfarms emphasizes that its recent board and leadership changes were made independently to enhance shareholder value, not for Riot’s benefit1.Public Criticism: Riot has declined to enter a non-disclosure agreement or propose a revised acquisition offer, instead resorting to public criticism1.
What’s Next? The tension between these two crypto giants is at an all-time high. With both companies vying for control and influence, the crypto community is watching closely. Will Bitfarms manage to fend off Riot’s advances, or will Riot succeed in their takeover bid?
Stay tuned for more updates on this unfolding saga. Don’t forget to follow us for the latest news and share your thoughts in the comments below!
#CryptoClash #Bitfarms #RiotPlatforms #CryptoNews #BoardDispute
What do you think about this intense boardroom battle? Share your thoughts and follow us for more breaking news! 🚀

🔶 Introduction
As the cryptocurrency market continues to evolve, mining operations play a crucial role in the ecosystem. Bitfarms, a prominent player in the Bitcoin mining industry, has recently released its production and operations update for October 2024. This update sheds light on the company’s performance, operational strategies, and future outlook, providing valuable insights for investors and industry enthusiasts alike.
🔶 Record Bitcoin Production
In October 2024, Bitfarms achieved a significant milestone by producing an impressive 530 Bitcoin. This marks a substantial increase compared to previous months, reflecting the company’s commitment to optimizing its mining operations. The increase in production is attributed to enhanced efficiencies in mining hardware and improved energy management strategies. With Bitcoin prices remaining volatile, maintaining high production levels is critical for maximizing revenue.
🔶 Operational Efficiency Gains
Bitfarms has focused on operational efficiency as a cornerstone of its strategy. The company has made notable advancements in its mining fleet, incorporating the latest generation of mining rigs that offer higher hash rates and lower energy consumption. This technological upgrade has not only increased output but has also reduced operational costs, positioning Bitfarms favorably in a competitive market.
Moreover, the strategic relocation of mining equipment to regions with lower energy costs has further bolstered the company’s operational efficiency. By leveraging favorable energy prices, Bitfarms enhances its profit margins, enabling it to remain resilient against market fluctuations.
🔶 Sustainable Energy Initiatives
Sustainability remains a key priority for Bitfarms. The company has been actively investing in renewable energy sources to power its mining operations. In October, approximately 80% of Bitfarms’ energy consumption came from hydroelectric and other renewable sources. This commitment not only aligns with global sustainability trends but also positions Bitfarms as a leader in environmentally responsible mining practices.
As regulatory scrutiny around energy consumption in cryptocurrency mining increases, Bitfarms’ dedication to sustainable practices may enhance its reputation and appeal among environmentally conscious investors.
🔶 Financial Performance and Market Position
Bitfarms continues to demonstrate robust financial performance. The company reported revenues of $12 million for October, underscoring the direct correlation between Bitcoin production and revenue generation. With the recent price fluctuations in Bitcoin, Bitfarms remains vigilant in managing its inventory and strategic sales to optimize returns.
The company’s financial health is further supported by its strategic partnerships and expansion plans. Bitfarms has been exploring opportunities to expand its operations in emerging markets, allowing for greater scalability and diversification of its revenue streams.
🔶 Future Outlook
Looking ahead, Bitfarms remains optimistic about its growth trajectory. The company has set ambitious production targets for the upcoming months, aiming to increase its monthly Bitcoin output by 15% by the end of 2024. This growth will be driven by continued investments in technology and energy efficiency.
Furthermore, as the Bitcoin network continues to evolve with upcoming protocol upgrades and changes, Bitfarms is well-positioned to adapt and thrive. The company’s proactive approach to operational enhancements and sustainability will likely attract interest from both investors and partners.
🔶 Conclusion
Bitfarms’ October 2024 production and operations update highlights the company’s resilience and strategic positioning within the cryptocurrency mining landscape. With record production numbers, a strong focus on sustainability, and a commitment to operational efficiency, Bitfarms is setting a solid foundation for future growth. As the industry continues to mature, the company’s proactive strategies and innovations will be crucial in navigating the challenges and opportunities ahead. For investors and stakeholders, Bitfarms represents a compelling case study in the evolving world of cryptocurrency mining.
#Bitfarms #16thBTCWhitePaperAnniv #CryptoPreUSElection

Token Unlocking

SingularityNET (AGIX) will unlock approximately 8.07 million tokens at 00:00 UTC on October 28, with a proportion of 2.11% of the current circulating supply, valued at approximately $4.3 million.Velo (VELO) is scheduled to unlock approximately 182 million tokens at 00:00 UTC on October 29, with a proportion of 2.47% of the current circulating supply, valued at approximately $2.3 million.Celestia (TIA) is set to unlock approximately 175.6 million tokens at 14:00 UTC on October 30, with a proportion of 79.75% of the current circulating supply, valued at approximately $941 million.Ethena (ENA) will unlock approximately 12.86 million tokens at 07:00 UTC on October 30, with a proportion of 0.47% of the current circulating supply, valued at approximately $4.5 million.Eigenlayer (EIGEN) will unlock approximately 1.29 million tokens at 19:00 UTC on October 29, with a proportion of 0.69% of the current circulating supply, valued at approximately $3.8 million.Optimism (OP) will unlock approximately 31.34 million tokens at 00:00 UTC on October 31, with a proportion of 2.50% of the current circulating supply, valued at approximately $49.5 million.Tribal Token (TRIBL) will unlock approximately 22.07 million tokens at 00:00 UTC on October 31, with a proportion of 19.06% of the current circulating supply, valued at approximately $13.4 million.Sui (SUI) will unlock approximately 64.19 million tokens at 00:00 UTC on November 1, with a proportion of 2.32% of the current circulating supply, valued at approximately $116 million.Immutable (IMX) will unlock approximately 32.47 million tokens at 00:00 UTC on November 1, with a proportion of 1.98% of the current circulating supply, valued at approximately $43.19 million.ZetaChain (ZETA) will unlock approximately 53.89 million tokens at 00:00 UTC on November 1, with a proportion of 11.72% of the current circulating supply, valued at approximately $36.6 million.dYdX (DYDX) will unlock approximately 8.33 million tokens at 00:00 UTC on November 1, with a proportion of 1.29% of the current circulating supply, valued at approximately $8.1 million.Delysium (AGI) will unlock approximately 34.38 million tokens at 00:00 UTC on November 1, with a proportion of 2.85% of the current circulating supply, valued at approximately $5.5 million.
Grass's First Airdrop to Begin on October 28 at 21:30

According to official sources, Grass's first airdrop will begin on October 28, 2024, at 21:30 Beijing time. The Grass Foundation stated that GRASS Airdrop One is one of the most widely distributed airdrops in history. Airdrop One marks a significant step toward building the first user-owned internet map.
GRASS tokens will be used for network buybacks, paying network fees, staking to ensure the security of network infrastructure, rewarding user contributions, and granting governance rights to token holders.
Optimism: Voting for Superchain Contributors in Seasons 5 and 6 Begins on October 28

Optimism posted on the X platform that up to 3.5 million OP tokens will be allocated to contributors of Optimism Governance during Seasons 5 and 6. This means contributors from October 2023 to September 18, 2024, will be rewarded. If you've contributed to Superchain governance, take note of the following dates:
Registration: September 26 - October 10Application Review Process: October 14 - October 28Voting: October 28 - November 7Results Announcement: November 19
Bitcoin Mining Company Bitfarms to Hold Special Shareholders Meeting on October 29 for Board Restructuring, Requested by Riot Platforms

Bitcoin mining company Bitfarms has officially scheduled a special shareholders meeting for October 29, 2024, in response to Riot Platforms' request made on June 24. 
According to the Bitfarms announcement, all shareholders registered as of September 26, 2024, are eligible to vote, though no further action is required at this time. Bitfarms stated that a special committee of independent board members, with the assistance of financial and legal advisors, reviewed the meeting request and unanimously set the meeting and record date. The core agenda of the meeting will focus on voting to remove the current Chairman and interim CEO Nicolas Bonta, board member Andrés Finkielsztain, and recently appointed board member Fanny Philip, who replaced co-founder Emiliano Grodzki, who was dismissed by shareholders. Bitfarms appointed Ben Gagnon as the new CEO on July 8, but he has not yet joined the board and is therefore not a removal target. Additionally, Riot Platforms has nominated three candidates for the Bitfarms board: John Delaney, an expert in government and public affairs; Amy Freedman, a corporate governance and capital markets specialist; and Ralph Goehring, a seasoned CFO in finance and energy sectors. Although Riot Platforms previously proposed a $950 million acquisition of Bitfarms in April, it withdrew the offer due to the “lack of meaningful engagement by the current board.” However, Riot Platforms has continued to increase its stake in Bitfarms, becoming its largest shareholder with approximately 14.9% ownership.
Magic Eden: TestME Eligibility to be Announced, Runs from October 29 to 31

Magic Eden posted on X that “TestME (ME test tokens)” will run from October 29 to October 31. While it has no monetary value, TestME allows users to become familiar with the token claim process. By participating, users can also ensure their wallets are correctly linked and prepare for the official ME token claim. Magic Eden stated that the ME test token claim will take place at the end of October, followed by the release of the tokenomics.
Binance Blockchain Week to Take Place in Dubai, CZ to Attend in a Personal Capacity

CZ announced on X that he will be attending Binance Blockchain Week, one of the largest Web3 events of the year, in Dubai from October 30 to 31 in a personal capacity.
Former FTX Executive Nishad Singh to be Sentenced on October 30, Co-Founder Gary Wang on November 20

According to court records, former FTX executive Nishad Singh will be sentenced on October 30 after testifying against FTX co-founder Sam Bankman-Fried. Co-founder Gary Wang will be sentenced on November 20.
OneKey Card to Gradually Discontinue Services, Remaining Balances to be Transferred to User Wallets by October 31

According to an announcement on the OneKey website, OneKey Card services will be gradually discontinued to enhance service quality and optimize the user experience. The timeline is as follows:
From September 30, 2024: Registration and top-up functions have been stopped.On October 31, 2024: All remaining balances will be securely transferred to users' wallets and can be withdrawn at any time.By January 31, 2025: OneKey Card services will be fully terminated.

$TIA $SUI $IMX #Tokenunlock #Bitfarms #BinanceBlockchainWeek #MagicEden