Bitfarms Acquisition of Bitcoin Miner Stronghold a ‘Strategic’ Move Against Rival Riot: Experts

Quick Summary:

Bitfarms appears to be making itself a more challenging target for its competitor, which has been gunning for a takeover for over a year.

Bitfarms agreed this week to purchase the crypto mining firm in a $175 million deal, the company said Wednesday.

In June, Bitfarms implemented a “poison pill” plan, threatening to dilute its shares if Riot attempted to acquire more than 15% of its business.

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Article Details

Author / Journalist: Liz Napolitano

Category: Crypto

Markets: EstoniaCanada

Topics: Bitfarms Acquisitions Bitcoin miners Riot Bitcoin mining Stronghold Digital Mining Business Riot Platforms

Source Website Secure: Yes (HTTPS)

News Sentiment: Neutral

Fact Checked: Legitimate

Article Type: News Report

Published On: 2024-08-23 @ 01:00:49 (10 hours ago)

News Timezone: GMT +8:00

News Source URL: decrypt.co

Language: English

Article Length: 710 words

Reading Time: 4 minutes read

Sentences: 24 lines

Sentence Length: 30 words per sentence (average)

Platforms: Desktop Web, Mobile Web, iOS App, Android App

Copyright Owner: © Decrypt

News ID: 22221235

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About Decrypt

Main Topics: Crypto

Official Website: decrypt.co

Update Frequency: 9 posts per day

Year Established: 2018

Headquarters: Estonia

News Last Updated: 11 hours ago

Coverage Areas: Estonia

Ownership: Independent Company

Publication Timezone: GMT +8:00

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News Language: English

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Publisher ID: #63

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