Mining company Bitfarms attempts to block Riot Platforms' hostile takeover with a "poison pill" strategy

BlockBeats reported that on June 10, Bitcoin mining company Bitfarms is adopting a "poison pill" strategy to prevent acquisitions by peers and competitors Riot Platforms.

It is reported that equity dilution anti-takeover measures, also known as "poison pill plans", are measures taken to prevent companies from being acquired without request and try to reduce their attractiveness. Bitfarms said that the plan has been approved by the board of directors and is "designed to maintain the integrity of its previously announced strategic alternative review process and is in the best interests of shareholders."

Riot Platforms has acquired a total of 12% of Bitfarms' shares in the past few weeks, striving to build one of the world's largest Bitcoin mining companies.