(Reuters) - Bitcoin miner Bitfarms ( BITF ) said on Monday it had entered into a settlement agreement with rival and top shareholder Riot Platforms ( RIOT ), under which Amy Freedman was appointed to its board.

Freedman, a former investment banker who has helped companies with corporate governance matters, will replace Andrés Finkielsztain on the Bitfarms ( BITF ) board, and was one of three nominees pushed by Riot.

The two companies have been locked in a dispute since April, when Riot made an unsolicited $950 million offer to acquire the Canada-based company.

Bitfarms ( BITF ) said the bid undervalued it and adopted a poison pill to fend off any attempts at a hostile takeover.

Riot has accused Bitfarms ( BITF ) of lacking solid corporate governance. It currently owns a roughly 19.9% stake in Bitfarms ( BITF ).

Bitfarms ( BITF ) also said on Monday it had provided Riot with certain rights to purchase shares of the company, provided Riot holds a stake of 15% or more.

(Reporting by Manya Saini in Bengaluru; Editing by Anil D'Silva and Devika Syamnath)