Hi HODLers, Hiveans and Lions,
The corporate dispute between crypto miners Riot Platforms and Bitfarms has recently intensified.
If you rememver, on June 11, Riot Platforms disclosed a significant increase in its stake in Bitfarms, acquiring roughly six million shares worth over $111 million!!! This brings them fronm around 9% to more than 13.5%! This is sizeable as you would expect them to ask for board representation soon!
Important to notice that this new increase just came a day after Bitfarms suggested a “poison pill” defense strategy to prevent Riot from increasing its stake to 15% or more.
A poison pill is a defense mechanism which is designed to dilute the value of shares and hinder Riot’s takeover plans.
As most of you know, I am a $BITF shareholder but would like to exit the Bitcoin Mining investments when I get a good price. I think these times are coming...
I just realized that thought I think Bitcoin mining is very important, there are so many better investment options if you want to be exposed to crypto's upside: $HODD, $COIN, ...
Do you think #Bitfarms will remain independent?
Stay safe out there,