Bitfarms rejects Riot's acquisition proposal due to its serious undervaluation of the company's growth prospects

ChainCatcher news, Bitcoin mining company Bitfarms rejects acquisition proposal from Riot Platforms. The company stated in a press release, "Riot has clearly undervalued the company and its growth prospects."

Bitfarms claims that Riot did not respond to its requests for confidentiality and non-solicitation protections, and Bitfarms' special committee is still determining the best path forward for the company.

Previous news, Canadian Bitcoin mining company Bitfarms responded to the acquisition proposal initiated by Riot Platforms, in which Riot intends to acquire 100% of Bitfarms' common stock at a price of $2.30 per share of common stock, consisting of cash and Riot common stock.