Riot Platforms Unveils Campaign Website Targeting Bitfarms Board Overhaul

In a strategic move, Riot Platforms, Inc. (NASDAQ: RIOT) has launched a new website, www.ABetterBitfarms.com, aimed at reconstituting the Board of Directors of Bitfarms Ltd. (NASDAQ: BITF), according to Riot Platforms. This initiative is part of Riot's requisition for a special meeting of Bitfarms shareholders to vote on significant changes to the company's board composition.

Special Meeting of Shareholders

Riot Platforms announced that the special meeting will address the election of three new director nominees: John Delaney, Amy Freedman, and Ralph Goehring. The meeting will also consider the removal of current Bitfarms Chairman Nicolas Bonta and directors Andrés Finkielsztain and Fanny Philip. The latter was recently appointed to fill a vacancy following the resignation of co-founder Emiliano Grodzki, who was voted off the board at Bitfarms' most recent Annual General and Special Meeting of Shareholders.

Website Launch and Shareholder Engagement

The newly launched website, www.ABetterBitfarms.com, is designed to engage Bitfarms' shareholders, employees, and other stakeholders. Visitors to the site can sign up for important updates, anonymously share their views, and learn more about Riot’s efforts to bring fresh perspectives and enhanced corporate governance to Bitfarms. Riot emphasizes the importance of electing directors with experience in overseeing significant corporate transactions and serving in executive management and public company director roles.

Background and Strategic Objectives

Riot Platforms, a Bitcoin mining and digital infrastructure company, has been vocal about its vision to become the world's leading Bitcoin-driven infrastructure platform. With Bitcoin mining operations in central Texas and electrical switchgear engineering and fabrication operations in Denver, Colorado, Riot aims to positively impact the sectors, networks, and communities it touches.

As part of its vertically integrated strategy, Riot has been actively involved in corporate governance initiatives, believing that strong governance can drive better performance and shareholder value. The company’s move to reconstitute the Bitfarms Board is seen as a step towards achieving these objectives.

Forward-Looking Statements and Legal Disclaimers

Riot Platforms has issued cautionary notes regarding forward-looking statements in its announcement. The company highlights that actual results may differ materially from those expressed or implied due to various risks and uncertainties. Detailed information about these factors can be found in Riot's filings with the U.S. Securities and Exchange Commission (SEC).

Riot also clarified that the information in the press release does not constitute a solicitation of a proxy within the meaning of applicable corporate and securities laws. The company intends to file a dissident information circular in due course, in compliance with applicable laws.

For more details, visit the official announcement on Riot Platforms' website: Riot Platforms .

Image source: Shutterstock