Bitfarms Up in U.S. Pre-Market After Setting Date of Special Shareholders Meeting-August 2024-www.financetom.com

Bitfarms Up in U.S. Pre-Market After Setting Date of Special Shareholders Meeting

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Bitfarms Up in U.S. Pre-Market After Setting Date of Special Shareholders Meeting

Jul 12, 2024 6:06 AM

08:39 AM EDT, 07/12/2024 (MT Newswires) -- Bitfarms ( BITF ) said on Friday that its board called a special shareholders' meeting for Oct. 29 following a request by Riot Platforms, which, Bitfarms ( BITF ) said, is attempting to disrupt a strategic review process and "opportunistically acquire" the bitcoin company.

Bitfarms ( BITF ) said Riot is seeking to change the majority of the board to gain control of the company.

Bitfarms ( BITF ) said it "remains hopeful" that Riot will seek to constructively engage with the company so that Bitfarms ( BITF ) would not expend its limited cash resources to protect the interests of its stakeholders against Riot's actions.

Bitfarms' ( BITF ) share price was up 0.8% to US$2.47 at last look in Nasdaq pre-market trading after closing 0.6% higher yesterday to $3.34 on the TSX.

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