On May 28, 2024, Riot Platforms, Inc. issued a non-binding proposal to Bitfarms Ltd., cautioning shareholders of both companies that the proposal does not guarantee a definitive offer or the completion of any transaction. The announcement, made via social media platforms X and LinkedIn, emphasized that the proposal should not be construed as an offer to Bitfarms shareholders and that there is no certainty of Bitfarms accepting any offer from Riot. Riot also stated it has no obligation to update on the proposed transaction unless required by law. The communication included forward-looking statements, which are not guarantees of future performance and are subject to risks and uncertainties that could cause actual results to differ materially. Riot's management has identified...Show More

On May 28, 2024, Riot Platforms, Inc. issued a non-binding proposal to Bitfarms Ltd., cautioning shareholders of both companies that the proposal does not guarantee a definitive offer or the completion of any transaction. The announcement, made via social media platforms X and LinkedIn, emphasized that the proposal should not be construed as an offer to Bitfarms shareholders and that there is no certainty of Bitfarms accepting any offer from Riot. Riot also stated it has no obligation to update on the proposed transaction unless required by law. The communication included forward-looking statements, which are not guarantees of future performance and are subject to risks and uncertainties that could cause actual results to differ materially. Riot's management has identified factors that may cause such differences in its SEC filings, including its Annual Report on Form 10-K for the fiscal year ended December 31, 2023. The document clarified that it is not an offer to sell securities or a solicitation of an offer and that any offer would comply with regulatory requirements. Riot has made a proposal for a business combination with Bitfarms, and any further developments will be filed with the SEC and Canadian securities regulatory authorities. Investors and security holders are urged to read these filings carefully for more detailed information about the proposed transaction.