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Call for Board Changes at Bitfarms by Riot Platforms

Wednesday. September 4 at 2:30 AM

1 min. read

Riot Platforms, the largest shareholder of Bitfarms, has issued an open letter to Bitfarms’ shareholders, urging for further modifications to the board of directors. The shareholders meeting is set for Oct. 29, where Riot will advocate for governance enhancements and increased value for all stakeholders. Bitfarms, a Canadian publicly traded company specializing in cryptocurrency, particularly Bitcoin mining, has seen recent board changes, including the resignation of co-founders Emiliano Grodzki and Nicolas Bonta. Riot proposes the election of two independent directors, Amy Freedman and John Delaney, to replace current board members. Riot cautions Bitfarms against actions that could solidify the existing board before the meeting, emphasizing the importance of shareholder input. The letter warns of consequences if the board takes steps to entrench itself. Bitfarms recently appointed CEO Ben Gagnon to the board amidst Riot's takeover attempt, following Bonta's resignation. Riot's letter stresses the need for fair shareholder representation and accountability in board decisions.

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Bitcoin Mining Company Warms 80,000 Finnish Homes with Excess Heat

Saturday. December 21 at 9:00 AM

Marathon Digital Holdings is changing the narrative on Bitcoin mining by using excess heat to heat 80,000 homes in Finland. The company's innovative approach merges technology and environmental responsibility. Starting with a pilot project in June, Marathon now provides heating to 67,000 more residents in addition to the initial 11,000. By utilizing district heating technology, the company efficiently channels heat generated from mining to warm homes. Marathon, valued at $7 billion, is a key player in the crypto space with a significant Bitcoin ownership. This sustainable initiative not only reduces environmental impact but also aligns with Finland's climate goals. Additionally, Marathon recently acquired a wind farm in Texas to enhance its renewable energy portfolio. Experts believe that Bitcoin's scarcity and institutional interest will drive its value up in the coming years. Disclaimer: The opinions expressed in this article are those of the writers and not CryptoSlate's. Readers are advised to conduct their own research before engaging in cryptocurrency activities.

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Bitcoin Mining Companies Increase BTC Reserves Through Major Purchases

Friday. December 20 at 2:00 AM

Bitcoin mining firms MARA and Hut 8 have recently announced significant Bitcoin acquisitions, reflecting a growing trend among companies to accumulate the primary cryptocurrency in their reserves. MARA, previously known as Marathon Digital, revealed an expansion of their Bitcoin purchase to a total of 15,574 BTC, valued at approximately $1.53 billion. This follows their initial purchase of 11,774 BTC for $1.1 billion. Additionally, Hut 8 disclosed the addition of 990 Bitcoin, totaling 10,096 BTC worth over $1 billion. MARA funded these purchases through $1.925 billion raised from convertible notes offerings. Both companies have substantially increased their Bitcoin holdings over the past year, with MARA tripling its reserves. Despite market fluctuations, the firms remain optimistic about the strategic value of holding Bitcoin reserves for future growth initiatives in the digital and power sectors.

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Empowering Users with ZT Mining's Multi-Tier Affiliate Program

Thursday. December 19 at 2:00 AM

ZT Mining's multi-tier affiliate program enables users to generate passive income consistently. As cloud mining gains popularity, more crypto enthusiasts are looking for ways to mine without heavy upfront costs. ZT Mining's program offers a risk-free path to earning rewards by sharing the platform. It stands out in the industry with competitive structures, direct commissions, and multi-level rewards. The focus on transparency and user convenience allows affiliates to track their performance easily. Affiliate programs are vital for cloud mining platforms, driving growth through referrals. ZT Mining's program goes beyond standard offerings with a multi-tier commission structure, unlocking exponential earning potential. Affiliates can promote referrals effortlessly through various channels and monitor earnings in real-time. The program aims to empower users to monetize their networks and grow passive income without initial investments, setting ZT Mining apart from competitors.

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Riot Platforms Increases Bitcoin Holdings Amid Investor Pressure

Sunday. December 15 at 8:00 AM

Riot Platforms, a Bitcoin mining company, recently acquired over 5,000 BTC amidst pressure from activist investor Starboard Value. The purchase, totaling around $510 million, was made between December 10 and 12 at an average price of $99,669 per BTC. This move was funded by Riot's convertible bond issue and cash reserves, boosting their total BTC holdings to 16,728 coins valued at $1.68 billion. The acquisition follows a challenging third quarter for Riot Platforms, which reported a net loss of $154.4 million. The surge in institutional interest in Bitcoin is evident as companies like Riot and MicroStrategy increase their BTC holdings. Riot's stock price rose by over 7% to $13.28 post the acquisition, mirroring the trend seen with MicroStrategy. The current price of Bitcoin is around $101,257, showing a 1% increase in the last 24 hours despite a 2% dip over the past week. Starboard Value's involvement in Riot Platforms suggests a shift towards AI-focused mining operations, highlighting the growing importance of Bitcoin investments for mining companies.

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