Bitfarms (BITF) Reschedules Particular Shareholders Assembly Amid Riot Engagement

Bitfarms Ltd. (NASDAQ/TSX: BITF), a worldwide chief in vertically built-in Bitcoin knowledge heart operations, has introduced the rescheduling of its Particular Assembly of shareholders. Initially set for October 29, 2024, the assembly will now happen on November 6, 2024, in response to GlobeNewswire. This shift is available in response to an amended requisition by Riot Platforms, Inc. (Riot) submitted on September 3, 2024.

Motive for Rescheduling

The choice to reschedule was made to supply Bitfarms’ Particular Committee adequate time to evaluate and reply to Riot’s amended requisition. This extension goals to make sure shareholders have enough time to judge related info earlier than making choices about their investments in Bitfarms.

Board’s Stance

The Bitfarms Board emphasizes its dedication to performing in the very best pursuits of all shareholders. The Board highlighted that Riot, as a direct competitor, is primarily centered on advancing its personal shareholders’ pursuits. To mitigate the excessive prices and distractions related to a proxy contest, Bitfarms’ Particular Committee has proposed a settlement to Riot. This proposal contains including a mutually agreed-upon board nominee, growing the board measurement to 6 members, and incorporating standstill and different customary provisions.

Assembly Particulars

The Particular Assembly shall be held in-person, with an choice for shareholders to pay attention by way of a reside audio-only webcast. Detailed details about the amended requisition and different issues to be voted on shall be offered to shareholders in a administration info round previous to the assembly. Shareholders don’t must take any motion at the moment.

About Bitfarms Ltd.

Based in 2017, Bitfarms is a worldwide vertically built-in Bitcoin knowledge heart firm. It operates 12 Bitcoin knowledge facilities with two extra beneath growth throughout 4 international locations: Canada, the US, Paraguay, and Argentina. The corporate is dedicated to utilizing sustainable vitality, primarily hydro-electric energy, for its operations.

Ahead-Wanting Statements

This information launch incorporates forward-looking statements based mostly on expectations, estimates, and projections as of the discharge date. These statements contain dangers and uncertainties that would trigger precise outcomes to vary materially. Readers are suggested to not place undue reliance on these statements and to check with Bitfarms’ filings on SEDAR and the U.S. Securities and Trade Fee for extra info on potential dangers.

For extra particulars, go to the official supply.

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