Crypto Flexs
  • DIRECTORY
  • CRYPTO
    • ETHEREUM
    • BITCOIN
    • ALTCOIN
  • BLOCKCHAIN
  • EXCHANGE
  • ADOPTION
  • TRADING
  • HACKING
  • SLOT
  • TRADE
Crypto Flexs
  • DIRECTORY
  • CRYPTO
    • ETHEREUM
    • BITCOIN
    • ALTCOIN
  • BLOCKCHAIN
  • EXCHANGE
  • ADOPTION
  • TRADING
  • HACKING
  • SLOT
  • TRADE
Crypto Flexs
Home»ADOPTION NEWS»Ontario Capital Markets Tribunal Dismisses Bitfarms’ Poison Pill at Riot’s Request
ADOPTION NEWS

Ontario Capital Markets Tribunal Dismisses Bitfarms’ Poison Pill at Riot’s Request

By Crypto FlexsJuly 25, 20242 Mins Read
Facebook Twitter Pinterest LinkedIn Tumblr Email
Ontario Capital Markets Tribunal Dismisses Bitfarms’ Poison Pill at Riot’s Request
Share
Facebook Twitter LinkedIn Pinterest Email

Louisa Crawford
25 Jul 2024 03:22

Riot Platforms successfully persuaded the Ontario Capital Markets Tribunal to end Bitfarms’ use of toxicity to protect shareholder rights.





Riot Platforms, Inc. (NASDAQ: RIOT) announced a significant victory when the Ontario Capital Markets Tribunal agreed to terminate the shareholder rights plan (commonly known as the “poison pill”) implemented by the board of directors of Bitfarms Ltd. (NASDAQ/TSX: BITF) on June 10, 2024. The tribunal’s decision effectively nullifies the poison pill, which was intended to protect Bitfarms from potential takeover attempts by limiting shareholders from acquiring more than a 15% stake in the company.

Details of the court’s decision

The Ontario Capital Markets Tribunal’s ruling marks a significant moment in Riot’s ongoing efforts to challenge Bitfarms’ corporate governance. Riot CEO Jason Less praised the tribunal’s swift and decisive action, saying, “This ruling by the tribunal in favor of Riot’s application is a victory for all Bitfarms shareholders. The adoption of the OTC poison pill is yet another example of the breakdown in corporate governance that plagues Bitfarms and the ongoing attempts by Bitfarms directors to entrench themselves.”

What it means for Bitfarms shareholders

Les also stressed the importance of electing Riot’s three director candidates (John Delaney, Amy Freedman, and Ralph Goehring) at the special shareholders meeting scheduled for October 29, 2024. According to Les, these candidates are independent from Riot and Bitfarms and have the qualifications necessary to bring a fresh perspective to Bitfarms and improve corporate governance.

Introducing the Riot Platform

Riot Platforms, a Nevada-based Bitcoin mining and digital infrastructure company, aims to be the world’s leading Bitcoin-based infrastructure platform. The company operates a Bitcoin mining facility in Central Texas and an electrical switchgear engineering and fabrication operation in Denver, Colorado. Riot’s mission is to positively impact the sectors, networks, and communities it touches through innovation and strong community partnerships.

For more information, visit riotplatforms.com.

Forward-looking statements

This announcement contains forward-looking statements, including those relating to Bitfarms’ future performance and governance. These statements are subject to risks and uncertainties that could cause actual results to differ materially from those anticipated. More information about these risks can be found in Riot’s filings with the Securities and Exchange Commission (SEC) and other regulatory agencies.

For more information, see the source version on Riot Platforms.

Image source: Shutterstock


Share. Facebook Twitter Pinterest LinkedIn Tumblr Email

Related Posts

Stablecoin startups surpass 2021 venture capital peaks as institutional money spills.

June 28, 2025

Gala Games improves leader board rewards and introduces preference systems.

June 20, 2025

Ether Leeum Whale starts a $ 11 million leverage betting in the 30% increase in ETH prices.

June 12, 2025
Add A Comment

Comments are closed.

Recent Posts

Checkpoint #4: Berlinterop | Ether Leeum Foundation Blog

June 28, 2025

TRON Price Propects USDT supply exceeded $ 80 billion

June 28, 2025

Stablecoin startups surpass 2021 venture capital peaks as institutional money spills.

June 28, 2025

No Altcoin Season 2025 ? Why Bitcoin Dominance Is Holding Strong In The Crypto Market

June 28, 2025

Why It Matters For Every Crypto Investor

June 27, 2025

Why It Matters For Every Crypto Investor

June 27, 2025

Safe smart account audit summary

June 27, 2025

CARV’s New Roadmap Signals Next Wave Of Web3 AI

June 27, 2025

CARV’s New Roadmap Signals Next Wave Of Web3 AI

June 27, 2025

Bybit Expands Global Reach With Credit Card Crypto Purchases In 25+ Currencies And Cashback Rewards

June 27, 2025

BYDFi Joins Seoul Meta Week 2025, Advancing Web3 Vision And South Korea Strategy

June 27, 2025

Crypto Flexs is a Professional Cryptocurrency News Platform. Here we will provide you only interesting content, which you will like very much. We’re dedicated to providing you the best of Cryptocurrency. We hope you enjoy our Cryptocurrency News as much as we enjoy offering them to you.

Contact Us : Partner(@)Cryptoflexs.com

Top Insights

Checkpoint #4: Berlinterop | Ether Leeum Foundation Blog

June 28, 2025

TRON Price Propects USDT supply exceeded $ 80 billion

June 28, 2025

Stablecoin startups surpass 2021 venture capital peaks as institutional money spills.

June 28, 2025
Most Popular

EEA Publishes DLT Interoperability Specification

September 20, 2024

F1 team Sauber agrees to two-year contract with cryptocurrency casino Stake

January 2, 2024

Evaluating AI Systems: The Crucial Role of Objective Benchmarks

August 6, 2024
  • Home
  • About Us
  • Contact Us
  • Disclaimer
  • Privacy Policy
  • Terms and Conditions
© 2025 Crypto Flexs

Type above and press Enter to search. Press Esc to cancel.