08:02 AM EDT, 09/03/2024 (MT Newswires) -- Riot Platforms ( RIOT ) on Tuesday urged fellow shareholders to support changes to Bitfarms' ( BITF ) board of directors at the upcoming special meeting to address governance issues and boost shareholder value.

Riot, in an open letter to Bitfarms ( BITF ) shareholders, called for the election of two independent nominees, Amy Freedman and John Delaney, to replace existing directors Andres Finkielsztain and Fanny Philip.

Riot, owning 19.9% of Bitfarms ( BITF ), criticized Bitfarms' ( BITF ) governance, including its handling of the proposed Stronghold acquisition and CEO succession, and asked the company to "halt its defensive tactics" and not take any "additional actions" ahead of the shareholder meeting on October 29.

Bitfarms ( BITF ) did not immediately respond to MT Newswires' request for comment.

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