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New Independent Directors Are Necessary to Fix Bitfarms' Broken Corporate Governance and to Oversee a Fair Strategic Alternatives Process
Riot Urges the Bitfarms Board to Ensure Shareholders Are Heard by Holding the Special Meeting Without Delay
Riot Withdraws Previous Proposal to Acquire Bitfarms for US$2.30 Per Share; Stands Ready to Engage with Reconstituted Bitfarms Board Regarding a Potential Transaction
Riot Platforms, Inc. (NASDAQ:RIOT) ("Riot") today announced that it has requisitioned a special meeting of Bitfarms Ltd. (NASDAQ:BITF) ("Bitfarms" or the "Company") shareholders (the "Special Meeting") to reconstitute the Bitfarms Board of Directors (the "Bitfarms Board"). Riot currently owns approximately 14.9% of Bitfarms, making it Bitfarms' largest shareholder.
