In response to a governance challenge from <a href="https://ultramining.com/news/en/riot-platforms-to-boost-efficiency-with-midas-immersion-coolings/" rel="noopener noreferrer nofollow">Riot</a> Platforms, <a href="https://ultramining.com/news/en/bitfarms-set-to-boost-mining-capacity-with-quebec-expansion/" rel="noopener noreferrer nofollow">Bitfarms</a> has proposed increasing its board size to six members, adding one mutually agreed nominee. Riot, which owns nearly 20% of Bitfarms' shares, has been pushing for more oversight and governance reforms as part of its broader strategy to influence the company's future direction.
The proposal is part of ongoing negotiations to avoid a proxy contest, which could be both costly and distracting for Bitfarms. As the special shareholder meeting approaches, the outcome of these discussions will have long-term implications for the company’s governance and future growth.
---

Bitfarms Proposes Expanding Board to Six Members in Response to Riot Platforms’ Requisition

Ultramining_Eng

Other articles published on Sep 10, 2024

Bitcoin’s Recent Higher Low Signals Possible Trend Shift, Analysts Cautiously Optimistic

Tether stablecoin issuer and Tron launch financial crime unit

The Big Day Has Arrived: Will Donald Trump and Kamala Harris Talk Cryptocurrencies in Live Debate?

Web3 Payment Platform Bridge Raises $58M to Transform Global Payments with Stablecoins

Musk X Empire: September 10 Daily Combo, Riddle, and Rebus

1kx Sells Rocket Pool worth $2.38M in RPL After 28% Price Surge

Join our free newsletter for daily crypto updates!