Bitfarms also claimed Riot did not respond to its request for customary confidentiality and non-solicitation protections.
Bitcoin mining firm Bitfarms explained why it rejected Riot Platforms' acquisition proposal in a Wednesday company statement.
A special committee representing Bitfarms, comprised of an independent board of director members, is still determining the company's next best path, according to the company On May 28, Riot Platforms announced that it purchased a 9.25% stake in Bitfarms after the rejected acquisition proposal, which valued the latter at $950 million.
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