RIOT - What's Going On With Bitcoin Mining Stock Riot Platforms Wednesday? | Benzinga
Riot Platforms Inc (NASDAQ:RIOT) shares have been volatile amid ongoing developments surrounding a potential takeover attempt of Bitfarms Ltd (NASDAQ:BITF). Shares are moving higher Wednesday after the Bitcoin (CRYPTO: BTC) mining company commented on the recent adoption of a shareholder rights plan.
What To Know: Bitfarms previously initiated a strategic alternatives review process to consider continuing to execute on the company's business plan, a business combination or other strategic transaction or a sale of the company following a takeover attempt from Riot.
The special committee determined that Riot's offer "significantly undervalued" the company. Riot then announced that it built a 12% stake in Bitfarms as it continued to pursue a potential takeover. ...