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Bitcoin Miner Bitfarms Faces Lawsuit Over Improper Capital Raise Accounting

Bitfarms faces a proposed class action lawsuit after revealing it must restate its 2022 and 2023 financials over improper capital raise accounting.

, by Shalini Nagarajan

Bitfarms Acquires Stronghold Digital, Securing 1.1GW Expansion in Pennsylvania

Bitfarms has finalized its acquisition of Stronghold Digital Mining, gaining access to a 1.1-gigawatt energy pipeline across three sites in Pennsylvania.

, by Ruholamin Haqshanas

Blockchain News

Bitfarms and Riot Reach Agreement With New Board Appointments

Bitfarms and Riot Platforms have announced a settlement agreement including board appointments and a standstill arrangement until 2026. Riot Platforms also gains certain rights to purchase additional shares, while a special shareholder meeting is set to address these governance changes.

, by Hongji Feng

Bitfarms Fires Back at Riot Platforms’ Criticism, Accuses Rival of Self-Interest in Board Dispute

Bitfarms Ltd. issued a strong rebuttal on September 4 to Riot Platforms's criticisms, expressing that Riot's intentions are driven by self-interest in an ongoing board dispute. The conflict between these two industry giants centers around Riot's attempt to acquire Bitfarms, which Bitfarms...

, by Hassan Shittu

“Bitfarms Needs to Halt its Defensive Tactics,” Says Riot Platform in Open Letter

Riot Platforms, Inc., the largest shareholder of Bitfarms Ltd., issued an open letter today urging Bitfarms to cease what it describes as defensive tactics ahead of a crucial shareholder meeting scheduled for October 29. Riot, which owns approximately 19.9% of Bitfarms, criticized the recent...

, by Hassan Shittu

Bitfarms Closes In on 110 MW, Takes Ownership of New US Data Center

Bitfarms Ltd., a global leader in Bitcoin mining, has officially expanded its footprint in the United States by acquiring a new data center in Sharon, Pennsylvania. This acquisition, which follows the initial announcement on June 13, 2024, marks a significant milestone for Bitfarms as it...

, by Hassan Shittu

Bitcoin Miner Riot Platforms Ups Ownership in Bitfarms to 18.9%

Bitcoin miner Riot Platforms said Tuesday that it expanded its ownership in competitor Bitfarms, increasing its stake to nearly 18.9%. Riot purchased an additional 1m Bitfarms shares, bringing its total holdings to about 85.3m shares.Before the latest purchase, Riot Platforms held about 18.68% of...

, by Shalini Nagarajan

Bitcoin Miner Bitfarms Reports Mixed Q2 Earnings, Stock Rises 20%

Bitcoin mining company, Bitfarms has experienced a surprising surge in its stock price, rising 20% despite reporting a mixed financial performance for the second quarter.The company posted revenue of $42 million, which marks a 16% decrease from the previous quarter but a 17% increase compared to...

, by Tanzeel Akhtar

Bitfarms Sees 34% Monthly Earnings Boost from Fleet Upgrades and Expansion

Bitfarms, a global vertically integrated Bitcoin mining company, has reported a 34% month-on-month (MoM) increase in earnings in its recent production report. The increase is primarily attributed to recent fleet upgrades and expansion.Bitfarms CEO Ben Gagnon said that the company has earned 62%...

, by Hassan Shittu

Bitfarms Adopts New ‘Poison Pill’ Strategy After Tribunal Sides with Rival Riot Platforms

Bitfarms, a prominent Bitcoin mining firm, has adopted a new 'poison pill' strategy following the Ontario Capital Markets Tribunal's termination of its initial plan to fend off a hostile takeover attempt by rival Riot Platforms. This latest move came following an ongoing, intensifying conflict...

, by Hassan Shittu

Canadian Tribunal Strikes Down Bitfarms’ Poison Pill Against Riot Platforms

Bitcoin miner Riot Platforms said Wednesday that a Canadian tribunal terminated Bitfarms' "poison pill" strategy to block its acquisition. It means Bitfarms can no longer use this tactic to prevent a hostile takeover. The poison pill, which would have been activated if an entity bought 15% of...

, by Shalini Nagarajan

Riot Platforms Launches Website to Advocate for Bitfarms Board Overhaul

Riot Platforms, a leading Bitcoin mining company, has launched a dedicated website to inform shareholders about corporate governance issues at Bitfarms and Riot’s plans to reconstitute the board. This move is part of Riot's decisive strategy to advance its acquisition of Bitfarms, marking a...

, by Hassan Shittu

Bitfarms Mined 189 BTC in June, Up 21%, Amid Hostile Takeover Attempt from Riot Platforms

Bitfarms, a prominent Bitcoin mining company, reported a significant increase in Bitcoin (BTC) production for June 2024. This growth comes amid efforts to fend off a hostile takeover attempt by Riot Platforms.The company's strategic upgrades and expansion plans highlight its resilience and...

, by Hassan Shittu

Bitfarms Appoints Independent Board Member Amid Riot Platform’s Push for Director Replacements

In an unexpected move, Bitfarms announced the appointment of Fanny Philip as an independent board member amidst an ongoing conflict with Riot Platforms.Riot, which owns a 14.9% stake in Bitfarms, recently expressed intentions to replace three company board members with independent directors...

, by Hassan Shittu

Riot Nominates Three Independent Directors to Bitfarms Board Amid Takeover Effort

Riot Platforms officially requisitioned a special June 24 meeting of shareholders of Bitfarms, a leading crypto mining company specializing in Bitcoin (BTC). The initiative is intended to replace the current Bitfarms Board of Directors, which Riot alleges has failed in its corporate governance...

, by Hassan Shittu

Bitfarms Expands to Pennsylvania as Riot Platforms Increases Ownership Stake to 14%

Bitfarms Ltd., a leading crypto mining company specializing in Bitcoin (BTC), has announced plans to expand its operations to Sharon, Pennsylvania, and secured a significant agreement to develop a new mining facility. This strategic move comes as Riot Platforms increases its ownership stake in...

, by Hassan Shittu

Bitfarms Rejected $950 Million Riot Platforms’ Acquisition Proposal, Citing Undervaluation

Bitfarms, a global Bitcoin mining company, has confirmed receiving and rejecting an acquisition proposal from Riot Platforms.

, by Hassan Shittu

Riot Platforms Buys 9.25% Stake in Bitfarms After Rejected Takeover Offer

Riot Platforms has acquired a 9.25% stake in Bitfarms after its takeover offer was rejected. According to a press release Riot Platforms published on May 28, the Bitcoin mining firm’s $950 million offer to acquire all outstanding shares of Bitfarms was turned down by the Bitfarms board....

, by Hongji Feng

Bitfarms Fires CEO Geoffrey Morphy Following $27 Million Lawsuit

Bitfarms CEO Geoffrey Morphy has been fired from the Bitcoin mining company. Here's what you need to know.

, by Julia Smith

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