Riot Platforms, the largest shareholder of Bitfarms, has issued an open letter to Bitfarms’ shareholders, urging for further modifications to the board of directors. The shareholders meeting is set for Oct. 29, where Riot will advocate for governance enhancements and increased value for all stakeholders. Bitfarms, a Canadian publicly traded company specializing in cryptocurrency, particularly Bitcoin mining, has seen recent board changes, including the resignation of co-founders Emiliano Grodzki and Nicolas Bonta. Riot proposes the election of two independent directors, Amy Freedman and John Delaney, to replace current board members. Riot cautions Bitfarms against actions that could solidify the existing board before the meeting, emphasizing the importance of shareholder input. The letter warns of consequences if the board takes steps to entrench itself. Bitfarms recently appointed CEO Ben Gagnon to the board amidst Riot's takeover attempt, following Bonta's resignation. Riot's letter stresses the need for fair shareholder representation and accountability in board decisions. Read more AI-generated news on: https://app.chaingpt.org/news

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