Reported 4 months ago
Bitcoin miner Riot Platforms has acquired a 12% stake in competitor Bitfarms by purchasing 1.5 million shares at around $2.45 per share. Riot Platforms previously owned 11.63% of Bitfarms and now plans to request a special shareholder meeting to appoint independent directors due to concerns over corporate governance, following short position disclosures by Kerrisdale Capital sending Riot's shares down. Riot had also made a previous offer to buy all Bitfarms shares for about $950 million.
Source: YAHOO