Riot Platforms criticizes Bitfarms for adopting a "poison pill" plan that is not beneficial to shareholders

Bitcoin mining and infrastructure company Riot Platforms criticized Bitfarms for adopting a shareholder-unfriendly "poison pill" plan that prevents any shareholder from acquiring 15% or more of Bitfarms' common stock without approval. Riot said the plan was below the customary threshold of 20% and reflected poor corporate governance. Riot urged the chairman of Bitfarms to force the chairman and interim CEO Nicolas Bonta to resign to resolve corporate governance issues. Earlier news, Bitfarms is adopting a "poison pill" strategy to prevent acquisitions by peers and competitors Riot Platforms. (Riotplatforms)