Bitfarms Fires Back at Riot Platforms’ Criticism, Accuses Rival of Self-Interest in Board Dispute
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Bitfarms Ltd. issued a strong rebuttal on September 4 to Riot Platforms’s criticisms, expressing that Riot’s intentions are driven by self-interest in an ongoing board dispute.
The conflict between these two industry giants centers around Riot’s attempt to acquire Bitfarms, which Bitfarms claims is being pursued for the benefit of Riot’s shareholders rather than those of Bitfarms.
The escalating tension has reached new heights as both companies vie for control and influence over Bitfarms’ future. Bitfarms accuses Riot of spreading misleading claims and undermining its initiatives, such as acquiring Stronghold.
Riot framed this move as an effort to improve corporate governance at Bitfarms. Still, Bitfarms argues that Riot’s true motive is to acquire the company at a discounted price to serve its shareholders.
Bitfarms has emphasized that its recent board and leadership changes were made independently, specifically to benefit Bitfarms’ shareholders.
Bitfarms today issued a statement in response to Riot Platforms, Inc. Read an excerpt here:
“The upcoming special meeting is not about corporate governance, as Riot has repeatedly positioned it to be, but rather about Riot attempting to acquire Bitfarms at a discounted price… pic.twitter.com/TbGFqT5xzr
“The recent Board and leadership changes that Bitfarms has implemented were made independently of Riot, on behalf of all of our shareholders, to ensure the right team is in place to enhance shareholder value at Bitfarms, not for Riot’s benefit and approval,” Bitfarms asserted.
Adding fuel to the
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