RIOT - What's Going On With Shares Of Bitcoin Miner Bitfarms Tuesday? | Benzinga
Bitfarms Ltd (NASDAQ:BITF) shares are trading higher Tuesday after Riot Platforms Inc (NASDAQ:RIOT) announced that it made a proposal to acquire all outstanding shares of the Bitcoin (CRYPTO: BTC) mining company and accumulated a 9.25% stake.
What Happened: Riot said it sent a proposal to Bitfarms’ board to acquire all of the outstanding shares of Bitfarms for $2.30 per share. The cash and stock proposal represents approximately $950 million in total equity value.
The consideration proposed would result ...