Bitfarms Leadership Shift Amid Boardroom Battle
In a strategic shake-up, Bitfarms, a prominent Bitcoin mining company, announced the immediate resignation of its co-founder and chair, Nicolas Bonta. This move comes in the wake of a protracted boardroom dispute with its largest shareholder, Riot Platforms. The tension between the two industry giants has been simmering since April, when Riot made an ambitious $950 million bid to acquire Bitfarms. However, Bitfarms rejected the offer, claiming it undervalued the company, and initiated a 'poison pill' strategy to thwart any hostile takeover attempts.
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