According to Odaily, U.S.-listed Bitcoin mining company Bitfarms has postponed its special shareholder meeting by one week, moving it from October 29 to November 6, to reassess a revised request from Riot Platforms. Riot initially sought to acquire its smaller mining competitor in April for approximately $950 million and has since been purchasing Bitfarms' stock, becoming its largest shareholder with around 19.9% ownership.
On September 3, Riot amended its request, citing concerns over recent governance changes at Bitfarms and the proposed acquisition of Stronghold Digital ahead of the special meeting to vote on restructuring Bitfarms' board. Riot advocates for further reforms to Bitfarms' board, emphasizing the need for independent oversight and improved governance practices to enhance shareholder value.
