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International Business Times
International Business Times
Business
Marvie Basilan

INSANE: Bitfarms settles takeover row with riot platforms co founder departs | Rare Historical Photos

Bitfarms Riot Riot Platforms Bitcoin
Riot Platforms and its subsidiaries operate as a Bitcoin mining company. (Credit: Riot Platforms Twitter Video/Screenshot)

KEY POINTS

  • Bitfarms co-founder Andres Finkielsztain has left the board as part of the agreement
  • Riot has agreed to withdraw its June requisition until Bitfarms' 2026 annual meeting 'with certain exceptions'
  • Riot first offered an unsolicited bid of $950M to acquire Bitfarms, which the latter rejected over supposed undervaluation

Toronto-based Bitcoin miner Bitfarms reached a settlement with Riot Platforms over Colorado-based Riot's hostile bid to take over Bitfarms, its Canadian rival. According to the deal announced on Monday, Bitfarms co-founder Andres Finkielsztain has left the board.

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