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Bitfarms Taking Measures to Prevent a Hostile Takeover

Bitfarms has appointed a new independent board member, Fanny Philip. He is the fifth board member and the fourth independent one. Philip’s appointment comes in time to prevent Riot Platforms from staging a hostile takeover of Bitfarms. Both Bitcoin miners find themselves in a precarious position. Riot backed out of buying all of Bitfarms’ common shares at $2.50 per share. The deal amounted to a $950 million acquisition but was called off. Riot did so, claiming Bitfarms’ board was too hard to...

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