Bitfarms Shares Rise After Riot Raises Pressure in Takeover Bid
- Riot said that it increased its holdings in Bitfarms to 14%
- This comes as Riot attempts to forcibly acquire Bitfarms
Technicians monitor cryptocurrency mining rigs at a Bitfarms facility in Saint-Hyacinthe, Quebec.
Photographer: James MacDonald/BloombergThis article is for subscribers only.
Bitfarms Ltd.’s shares rose as much as 5.3% after Riot Platforms Inc. ratcheted up its takeover efforts by increasing its stake in the rival Bitcoin miner.
Riot announced Thursday that it has increased its holding of Bitfarms common shares to 14% and that it plans nominate candidates for the board of directors.