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Bitfarms Ltd. (NASDAQ/TSX: BITF), a leading global Bitcoin data center company, has rescheduled its Special Shareholders Meeting to address Riot Platforms, Inc.’s amended requisition. The meeting, initially scheduled for October 29, 2024, will now be held on November 6, 2024, in-person.
Reason for Rescheduling
The rescheduling was done to give Bitfarms’ Special Committee ample time to review and respond to Riot’s amended requisition. This extension ensures that shareholders have adequate time to evaluate important information before making investment decisions.
Board’s Stance
The Bitfarms Board is dedicated to acting in the best interests of shareholders. The Board recognizes Riot as a direct competitor primarily focused on advancing its own shareholders’ interests. To avoid the expenses and distractions of a proxy contest, Bitfarms’ Special Committee has proposed a settlement to Riot, including a board nominee, board size increase, and other provisions.
Meeting Details
The in-person Special Meeting will allow shareholders to listen through a live audio-only webcast. Detailed information on the amended requisition and other matters will be provided in a management information circular before the meeting. Shareholders are not required to take action at this time.
About Bitfarms Ltd.
Established in 2017, Bitfarms is a global Bitcoin data center company operating 12 centers with two more in development across Canada, the United States, Paraguay, and Argentina. The company prioritizes sustainability by using hydro-electric power for its operations.
Forward-Looking Statements
This release contains forward-looking statements that may involve risks and uncertainties. Readers are advised to refer to Bitfarms’ filings for more information on potential risks.
For more information, visit the official source.
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