Summary by Moomoo AI
Riot Platforms, Inc., a Bitcoin mining and digital infrastructure company, has announced the acquisition of additional shares in Bitfarms Ltd., increasing its beneficial ownership to approximately 10% of the issued and outstanding common shares. The acquisition of 3,002,350 common shares took place on May 28, 2024, through normal course purchases on the Nasdaq Stock Market and other open market trades. Prior to this transaction, Riot owned 9.25% of Bitfarms. This move follows Riot's non-binding proposal to acquire all outstanding common shares of Bitfarms for US$2.30 each, a combination of cash and Riot's common stock. Riot has expressed its intention to requisition a special meeting of Bitfarms' shareholders to nominate new directors to the board. The company has filed an Early Warning Report...Show More