Summary by Moomoo AI
Bitfarms Ltd., a global leader in Bitcoin data center operations, has issued a statement on September 4, 2024, in response to Riot Platforms, Inc.'s amended requisition proposal and associated claims. Bitfarms asserts that Riot's portrayal of the upcoming special meeting as a matter of corporate governance is misleading and accuses Riot of attempting to acquire Bitfarms at a discount for Riot shareholders' benefit, not Bitfarms'. Riot has been accused of refusing to engage constructively, declining a non-disclosure agreement, and not revising their proposal, instead opting for public attacks detrimental to Bitfarms shareholders. Bitfarms emphasizes its independent leadership changes and strategic acquisitions, such as Stronghold Digital Mining, to diversify and optimize its energy portfolio, projecting an increase in energy capacity to over 950 MW by the end of 2025. The company remains committed to enhancing shareholder value and has advised that no shareholder action is required at this time. Bitfarms, founded in 2017, operates 12 Bitcoin data centers and is committed to sustainable energy use.
