{"id":35987,"date":"2024-08-14T12:37:14","date_gmt":"2024-08-14T12:37:14","guid":{"rendered":"https:\/\/crowdfundjunction.com\/blog\/riot-platforms-expands-influence-with-major-bitfarms-share-acquisition\/"},"modified":"2024-08-14T12:37:14","modified_gmt":"2024-08-14T12:37:14","slug":"riot-platforms-expands-influence-with-major-bitfarms-share-acquisition","status":"publish","type":"post","link":"https:\/\/crowdfundjunction.com\/blog\/riot-platforms-expands-influence-with-major-bitfarms-share-acquisition\/","title":{"rendered":"Riot Platforms Expands Influence with Major Bitfarms Share Acquisition"},"content":{"rendered":"

(Originally posted on : Crypto News – iGaming.org )<\/b>
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Riot Platforms has strengthened its holdings in Bitfarms, a prominent Bitcoin mining business in Canada, by obtaining an extra million common shares in the latter. Riot\u2019s authority over Bitfarms has significantly increased with this latest acquisition, bringing its ownership to roughly 18.90%. The platform previously strengthened its position with a $92.5 million block mining purchase<\/a>.<\/p>\n

The most recent action by Riot Platforms, which will cost about $2.3 million, was disclosed on August 13. The company plans to purchase Bitfarms shares at a weighted average price of $2.28 per share. Riot\u2019s previous $950 million deal to acquire Bitfarms was eventually dropped after the board of Bitfarms did not approve it. This acquisition follows directly after that offer. Nevertheless, Riot\u2019s continued involvement with Bitfarms is clear given that it currently owns nearly 19% of the business.<\/p>\n

The acquisition has had an immediate impact on the market, with Bitfarms shares rising by 3.26% following the announcement, according to Google Finance data. Riot\u2019s growing stake could signal further strategic moves as it continues to explore opportunities to shape Bitfarms\u2019 future.<\/p>\n

Leadership Changes and Ongoing Developments<\/h2>\n

Apart from augmenting its stake, Riot has actively shaped Bitfarms\u2019 corporate trajectory. In order to propose changes to Bitfarms\u2019 board, the firm had already convened a special meeting, demonstrating its commitment to giving shareholders a voice in the company\u2019s strategic choices.<\/p>\n

Significant changes in Bitfarms\u2019 leadership have also occurred while Riot solidifies its position. Brian Howlett became the new independent chairman of the board, while Ben Gagnon was named CEO. A significant player in Bitfarms and co-founder Nicolas Bonta also resigned from the board of directors in the midst of the continuing events.<\/p>\n

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Riot Platforms\u2019 most recent activities demonstrate its commitment to consolidating its power over Bitfarms and growing its presence in the Bitcoin mining market, paving the way for prospective future developments in the highly competitive market.<\/p>\n<\/p><\/div>\n

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(Originally posted on : Crypto News – iGaming.org ) Riot Platforms has strengthened its holdings in Bitfarms, a prominent Bitcoin mining business in Canada, by obtaining an extra million common shares in the latter. Riot\u2019s authority over Bitfarms has significantly increased with this latest acquisition, bringing its ownership to roughly 18.90%. The platform previously strengthened […]<\/p>\n","protected":false},"author":34,"featured_media":35988,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"om_disable_all_campaigns":false,"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0},"categories":[34],"tags":[],"_links":{"self":[{"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/posts\/35987"}],"collection":[{"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/users\/34"}],"replies":[{"embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/comments?post=35987"}],"version-history":[{"count":0,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/posts\/35987\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/media\/35988"}],"wp:attachment":[{"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/media?parent=35987"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/categories?post=35987"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/tags?post=35987"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}