On July 24, 2024, Bitfarms Ltd. announced the approval of its Shareholder Rights Plan by the company's board of directors. The Rights Plan, detailed in the Shareholder Rights Plan Agreement, aims to prevent a creeping takeover and ensure fair treatment of all shareholders in the event of a takeover bid. The Rights Plan became effective immediately upon board approval and will be subject to ratification by shareholders within six months. Rights will be issued to each common share on August 6, 2024, and are not initially exercisable. They will become exercisable upon certain triggering events, such as an individual or entity becoming an Acquiring Person by owning 20% or more of the voting shares, excluding those acquired through a Permitted Bid or other approved...Show More

On July 24, 2024, Bitfarms Ltd. announced the approval of its Shareholder Rights Plan by the company's board of directors. The Rights Plan, detailed in the Shareholder Rights Plan Agreement, aims to prevent a creeping takeover and ensure fair treatment of all shareholders in the event of a takeover bid. The Rights Plan became effective immediately upon board approval and will be subject to ratification by shareholders within six months. Rights will be issued to each common share on August 6, 2024, and are not initially exercisable. They will become exercisable upon certain triggering events, such as an individual or entity becoming an Acquiring Person by owning 20% or more of the voting shares, excluding those acquired through a Permitted Bid or other approved transactions. The Rights Plan includes provisions for Permitted Bids, Competing Permitted Bids, and specific conditions under which the Rights Plan may be waived by the board. The Rights Plan will be redeemable by the board at a nominal price before a Flip-in Event occurs and can be amended with shareholder approval. The announcement also includes the filing of the Rights Plan with the Toronto Stock Exchange and the registration of rights to purchase common shares on the Nasdaq Stock Market LLC.