Riot Platforms withdraws acquisition proposal for Bitfarms amid appointment of new CEO
Acquiring Company
Riot Platforms
Acquired Company
Bitfarms
Castle Rock
TorontoOtherInformation TechnologyInformation TechnologyEnergyAnalyticsRenewables & EnvironmentDescription
Bitfarms, a Toronto-headquartered Bitcoin mining giant, has appointed Ben Gagnon as its new chief executive amid an ongoing takeover battle with U.S. rival, Riot Platforms. Despite Riot Platforms’ previous offer of $950 million for acquisition, the Colorado-headquartered company has withdrawn its acquisition proposal and expressed concerns about Bitfarms’ corporate governance.
Quick answer
Riot Platforms is acquiring Bitfarms, announced July 8, 2024. Riot Platforms is based in Castle Rock, Colorado, United States.
- How much did Riot Platforms pay for Bitfarms?
- The deal value was not disclosed.
- Where are Riot Platforms and Bitfarms based?
- Riot Platforms is based in Castle Rock, Colorado, United States. Bitfarms is based in Toronto, Ontario, Canada.
- Who are the decision-makers at Riot Platforms?
- Fundz holds 3 contacts at Riot Platforms. Names and contact details are shown to Fundz members.
Source: Fundz verified event record.
Other recent acquisitions in Energy and Analytics
Deals where the buyer or target shares a sector with this one, within 45 days, from Fundz verified event records.
- Riot Platforms increases stake in Bitfarms with $2.2m share purchase, $2.2M (August 14, 2024)
- Enverus completes acquisition of BidOut to enhance Business Automation solutions (August 6, 2024)
- KKR completes acquisition of majority equity interest in Avantus and secures $522 Million Development Facility, $522M (July 30, 2024)
- Riot Platforms requisitions special meeting of Bitfarms, withdraws $950m acquisition proposal, $950M (June 24, 2024)
- Riot Platforms Acquires 14% Stake in Bitfarms Ltd. to Influence Corporate Governance (June 14, 2024)
- Riot Blockchain, Inc. acquires 12% stake in Bitfarms Ltd. (June 6, 2024)
Who to call at Riot Platforms, and when
When Riot Platforms changes hands, the new owners review vendors, systems and leadership. That is when the door opens.
- An alert the day Riot Platforms raises, hires an executive or expands, scored against what you sell
- The decision-makers there, with verified emails
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Related People
Frequently asked
Who acquired Bitfarms?
Bitfarms was acquired by Riot Platforms, based in Castle Rock. The deal was reported on July 8, 2024. Riot Platforms is publicly traded (RIOT) and operates in Other.
When did Riot Platforms acquire Bitfarms?
Riot Platforms's acquisition of Bitfarms was reported on July 8, 2024. Bitfarms, a Toronto-headquartered Bitcoin mining giant, has appointed Ben Gagnon as its new chief executive amid an ongoing takeover battle with U.S. rival, Riot Platforms. Fundz records the date the transaction was first publicly reported, sourced from filings and company announcements.
What does Bitfarms do?
Bitfarms is the company acquired in this transaction. It is privately held, operating in Information Technology, and is based in Toronto.
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