Bitfarms and Riot Platforms Settle, Limiting Riot’s Stake to 20%

The ongoing dispute between Bitfarms and Riot Platforms has concluded with a settlement that caps Riot’s ownership stake in Bitfarms at 20%, unless approved by the board. Riot currently holds 19.9% of Bitfarms’ shares, halting its attempted hostile takeover.

As part of the agreement, Bitfarms co-founder Andres Finkielsztain stepped down from the board, with corporate governance expert Amy Freedman taking his place. While the special shareholder meeting may be delayed, it will take place before November 20, with key decisions on the company’s future to be addressed. Bitfarms now plans to shift focus beyond Bitcoin mining, exploring growth areas like energy trading and high-performance computing.

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