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    IOT in E-Commerce Market Is Going to Boom | Major Giants Amazon,Alibaba,eBay

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    The most potentially profitable investment method in 2025 is through PairMiner crypto cloud mining, earning passive income daily.

    The most potentially profitable investment method in 2025 is through PairMiner crypto cloud mining, earning passive income daily.

    GameFi Q1 2025 Report: User Growth, Chain Activity, and Revenue Trends

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    Meta Cancels Next-Gen Headset Amidst Changing Market Landscape

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    NFT Sales Spike in July—but Still Miles Below 2024’s Highs

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    Ethereum Collections Lead NFT Sales Today

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    Bitcoin Miner Bit Digital Diversifies Into AI for ‘Substantially Higher Margin’ Than Mining

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    ETH Daddy Discusses Ethereum and AI

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    How decentralization can mitigate ‘dystopic’ artificial intelligence risks: SingularityNET exec

    ChatGPT is a tad too enthusiastic about Ethereum’s prospects

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    UAE emirate launches new free zone for digital assets, Web3 and AI

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    What’s the Difference & Which Is Better to Trade?

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    Think Your Cold Wallet Is Safe? Not If You Make These 7 Mistakes

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    What are Decentralized Autonomous Organizations (DAO)? The Pros, Cons, and Real-World Examples

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    What Is Copy Trading in Crypto? A Beginner’s Guide

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    What is Spot Trading in Crypto? A Beginner’s Guide to How It Works

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  • Analysis
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    Bitcoin Sees Historic Rise in Shark and Whale BTC Wallets, Records New High: Santiment

    An SBF Testimony Could Add ‘Decades’ to His Prison Sentence, According to Lawyer – Here’s Why

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    Solana, XRP and One Ethereum Rival Leading Institutional Inflows in 2023: CoinShares Data

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    Estate of Bankrupt Crypto Exchange FTX Abruptly Stakes Over $144 Million in Solana (SOL)

    Dogecoin Bull run

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    SEC Chair Gary Gensler Standing in the Way of Bitcoin ETFs, Says ARK Invest’s Cathie Wood

    Top Trader Sees Bitcoin Skyrocketing 570% in Next Bull Market Amid Soaring US Debt Levels

    Top Trader Sees Bitcoin Skyrocketing 570% in Next Bull Market Amid Soaring US Debt Levels

    The #1 CopyTrading Exchange-Bitget Turns 5, $100 Bonus for Newcomers

    The #1 CopyTrading Exchange-Bitget Turns 5, $100 Bonus for Newcomers

  • Coin Marketcaps
  • Home
  • Crypto
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  • Web 3
    IOT in E-Commerce Market Is Going to Boom | Major Giants Amazon,Alibaba,eBay

    IOT in E-Commerce Market Is Going to Boom | Major Giants Amazon,Alibaba,eBay

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    Enhancing Security in Online Gambling with Blockchain Technology

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    Blushush by Sahil Gandhi and Ohh My Brand by Bhavik Sarkhedi Partner to Revolutionize Brand Strategy and Personal Branding

    How to Play Treeverse: Beginner’s Guide to Gameplay, NFTs, and Tokenomics

    How to Play Treeverse: Beginner’s Guide to Gameplay, NFTs, and Tokenomics

    Intellivix Targets Global AI Surveillance Market with ‘False Alarm Elimination’ Gen AMS

    Intellivix Targets Global AI Surveillance Market with ‘False Alarm Elimination’ Gen AMS

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    The Future of Gambling: How Casino Sites Are Leveraging Web3

    The most potentially profitable investment method in 2025 is through PairMiner crypto cloud mining, earning passive income daily.

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    Carrieverse and Disney Ink Content Deal

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    SYKY Bridges Digital and Physical Fashion with Apple Vision Pro

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    Cloudflare Accuses Perplexity AI of Using Stealth Crawlers to Evade Website Blocks

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    CryptoPunks and Pudgy Penguins Draw Major Sales

    NFT Sales Spike in July—but Still Miles Below 2024’s Highs

    NFT Sales Spike in July—but Still Miles Below 2024’s Highs

    Ethereum Collections Lead NFT Sales Today

    Ethereum Collections Lead NFT Sales Today

    how NFTs became a global brand and a Web3 “social currency”

    how NFTs became a global brand and a Web3 “social currency”

    Pixel Vault Removes CEO Following Self-Dealing and Rug Pull Accusations

    Pixel Vault Removes CEO Following Self-Dealing and Rug Pull Accusations

    Labubus have succeeded in every way that NFTs have failed

    Labubus have succeeded in every way that NFTs have failed

    CryptoPunks Floor Price Hits 3-Year High of $208,000

    CryptoPunks Floor Price Hits 3-Year High of $208,000

    NFT sales surge to $574 million in July, second-highest in 2025

    NFT sales surge to $574 million in July, second-highest in 2025

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    Google to Pit Top AI Models Against Each Other in Live Chess Tournament

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    Blockchain Bookmakers: A New Era of Fair and Secure

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    Ethereum NFT Sales Surge 56% in July 2025 as Alt-Chains Lose Market Share

    The Biggest Games Releasing in August 2025

    The Biggest Games Releasing in August 2025

    TaskOn Joins EPHYRA to Elevate AI-Powered Gaming Experience

    TaskOn Joins EPHYRA to Elevate AI-Powered Gaming Experience

    The Squid Fighter game is taking Telegram by storm — join the fight and claim your NFT before it’s too late!

    The Squid Fighter game is taking Telegram by storm — join the fight and claim your NFT before it’s too late!

    Early Off the Grid Skin Holders Are Cashing In – Will You?

    Early Off the Grid Skin Holders Are Cashing In – Will You?

    This Game Lets You Relive the Ethereum Story Through Vitalik Buterin’s Eyes

    This Game Lets You Relive the Ethereum Story Through Vitalik Buterin’s Eyes

    NFTs at Your Fingertips: Inside Japan’s NFT Vending Machine Trend

    NFTs at Your Fingertips: Inside Japan’s NFT Vending Machine Trend

  • Blockchain
    Capturing the Growth of Asset-Backed Finance via Blockchain-Enabled Opportunities

    Capturing the Growth of Asset-Backed Finance via Blockchain-Enabled Opportunities

    MetaMask Users Can Now Link Binance and OKX Accounts to Their Portfolio Dashboard

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    What are Decentralized Autonomous Organizations (DAO)? The Pros, Cons, and Real-World Examples

    What Is Copy Trading in Crypto? A Beginner’s Guide

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    Crypto Risk Management Strategies for Trading (2025)

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    What Is Crypto Staking? How to Earn Crypto by Holding It

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  • Analysis
    Bitcoin Sees Historic Rise in Shark and Whale BTC Wallets, Records New High: Santiment

    Bitcoin Sees Historic Rise in Shark and Whale BTC Wallets, Records New High: Santiment

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Home Mining

Bitfarms refutes ‘misleading claims’ made by Riot Platforms in open letter

September 5, 2024
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Bitfarms to boost US presence with Pennsylvania expansion amid Riot takeover bid
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A Remarkable Achievement in Bitcoin Mining

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Bitcoin miner Bitfarms issued a statement addressing what it called misleading claims by rival Riot Platforms amid ongoing tensions over the latter’s amended acquisition proposal.

In the Sept. 4 press release, Bitfarms emphasized that Riot’s proposal is not about corporate governance but rather an attempt to acquire it at a discounted price. The firm further stated that the move would primarily benefit Riot shareholders rather than Bitfarms’ own investors.

The statement comes after Riot criticized Bitfarms’ plan to acquire Stronghold Digital in an open letter to shareholders on Sept. 3.

Changes made independently

Bitfarms claimed that Riot has refused to engage in meaningful discussions, including declining to sign a standard non-disclosure agreement or submit a revised proposal. Instead, Riot has taken actions that Bitfarms claims have undermined the interests of its shareholders.

The firm also clarified that the recent leadership changes were made “independently of Riot’s involvement” and implemented to strengthen shareholder value. It further emphasized the qualifications of its leadership team and questioned the potential value that Riot’s board nominees could offer.

Bitfarms also highlighted that its proposed acquisition of Stronghold as part of its ongoing strategy to diversify energy access and expand its presence in the US. The acquisition, which could add up to 307 megawatts (MW) of power capacity, aligns with Bitfarms’ goal of growing its energy portfolio to over 950 MW by the end of 2025, with nearly half of that capacity based in the US.

See also  XRPL Grant Program calls for Web3 financial innovation: Wave 6 now open

Bitfarms stated that the Board would review and respond to Riot’s amended requisition proposal in due course but advised shareholders that no immediate action was required. The company reiterated its commitment to enhancing shareholder value in both the short and long term.

Hostile takeover

The dispute between the two firms dates began earlier this year when Riot first made an unsolicited offer to acquire Bitfarms. However, the latter rejected this overture, citing concerns about the terms of the acquisition, which it believed undervalued its business.

Riot, undeterred, continued its pursuit and began pushing for changes in Bitfarms’ corporate governance, suggesting that improvements in leadership and strategic direction were necessary. It also nominated its own slate of candidates for Bitfarms’ board, arguing that fresh perspectives were needed to align the company’s strategy with market demands.

However, Bitfarms has consistently refuted Riot’s claims, asserting that its board and management have been taking independent actions to strengthen the company’s financial position and growth prospects.

This public back-and-forth has escalated, with Riot resorting to what Bitfarms describes as “public attacks” to pressure the firm into accepting a deal.

Mentioned in this article
Tags: BitfarmsclaimslettermisleadingOpenplatformsrefutesRiot

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October 12, 2023
Ethereum (ETH) Price Prediction 2025-2030: Will ETH sprint to $5000 before 2025

Ethereum (ETH) Price Prediction 2025-2030: Will ETH sprint to $5000 before 2025

May 1, 2023
Avalanche Game ‘Shrapnel’ Now Lets Players Buy SHRAP With Credit/Debit Cards

Avalanche Game ‘Shrapnel’ Now Lets Players Buy SHRAP With Credit/Debit Cards

May 8, 2024

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