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<\/p>\n Bitfarms Ltd. has scheduled a special shareholder meeting for October 29, 2024, in response to a requisition by Riot Platforms. Shareholders of record as of September 26 are eligible to vote.<\/p>\n
Bitfarms Ltd. (Nasdaq\/TSX: BITF), a global Bitcoin (BTC) data center company, has announced a special shareholder meeting to be held on October 29, 2024. This meeting comes in response to a requisition from Riot Platforms, Inc., filed on June 24, 2024. According to the announcement, shareholders of record as of September 26, 2024, will be entitled to vote at the meeting.<\/p>\n Riot Platforms, through its requisition, aims to disrupt Bitfarms’ ongoing strategic alternatives review process and potentially acquire the company. The Board of Directors, after careful consideration by a special committee of independent directors, has decided on the meeting date. The committee, with the assistance of financial and legal advisors, weighed multiple factors before making their recommendation.<\/p>\n The special committee’s evaluation included:<\/p>\n At the upcoming meeting, shareholders will consider the requisitioned matters and other issues, including the ratification of the Rights Plan. Detailed information will be provided in a management information circular before the meeting. Currently, no action is required from shareholders.<\/p>\n Bitfarms remains dedicated to engaging constructively with all stakeholders, hoping to avoid unnecessary expenditure of its limited cash resources due to Riot’s actions.<\/p>\n Moelis & Company LLC is serving as Bitfarms’ financial advisor, with legal counsel from Skadden, Arps, Slate, Meagher & Flom LLP, Peterson McVicar LLP, and McMillan LLP. Innisfree M&A Incorporated and Laurel Hill Advisory Group are acting as strategic advisors and proxy solicitation agents.<\/p>\n Founded in 2017, Bitfarms is a global Bitcoin mining company that operates 12 mining facilities across Canada, the United States, Paraguay, and Argentina, with another under development. The company focuses on utilizing environmentally friendly hydro-electric power and long-term power contracts.<\/p>\n For more details, visit GlobeNewswire<\/a>.<\/p>\n
\n Jessie A Ellis<\/a>
\n Jul 14, 2024 03:40<\/span>
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\n ![\"Bitfarms](\"https:\/\/image.blockchain.news:443\/features\/DC3788979712BF4DFF603597AAC46E7C52F8B5EF76BC21453D757F37CDB271FE.jpg\")
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\n <\/figure>\nBackground of the Requisition<\/h2>\n
Considerations and Recommendations<\/h2>\n
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Upcoming Shareholder Decisions<\/h2>\n
Bitfarms’ Commitment to Stakeholders<\/h2>\n
Advisors and Legal Counsel<\/h2>\n
About Bitfarms Ltd.<\/h2>\n