Riot Platforms Seeks to Overhaul Bitfarms Board After Rejected Takeover Bid

Riot nominates three independent directors to replace current board members, citing governance issues and potential for growth.

Riot Platforms calls for a special meeting of Bitfarms shareholders to vote on new board nominees.
The nominees include John Delaney, Amy Freedman, and Ralph Goehring, all independent of both companies.
Riot holds a nearly 15% stake in Bitfarms and aims to address what it sees as poor corporate governance.
Bitfarms previously rejected Riot's $950 million buyout offer and adopted a poison pill strategy.
Riot believes a merger would create the largest publicly listed bitcoin miner, positioned for long-term growth.