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Market
Combined Riot Platforms and Bitfarms exceed 51 EH/s by mid-2025?
4
Resolution / Starting Odds
Yes • 50%
No • 50%
Company quarterly financial reports and industry mining capacity reports
Story
Riot Platforms Takes 9.25% Stake in Bitfarms, Proposes $2.30 Per Share Cash and Stock Takeover to Create 51 EH/s Miner
May 28, 2024, 12:29 PM
Riot Platforms has taken a 9.25% stake in Bitfarms and plans to make a public takeover offer for the smaller Bitcoin miner. The proposed acquisition price is $2.30 per share in cash and stock, which represents a 24% premium to Bitfarms' current share price. If successful, the merger would create the world's largest publicly-listed Bitcoin miner with a mining capacity of 51 EH/s and a fleet of approximately 169,000 mining machines. This move positions Riot Platforms as a dominant player in the Bitcoin mining industry, second only to Core Scientific. Assuming both companies hit this year's EH/s targets, this summer is expected to be significant for the Bitcoin mining space.
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Similar markets
Largest Bitcoin miner by hash rate • 33%
Second largest Bitcoin miner by hash rate • 33%
Remains below the top two • 33%
New mergers or acquisitions announced • 50%
No significant new mergers or acquisitions • 50%
Positive, over 15% gain • 25%
Neutral, between -5% and +15% gain • 25%
Negative, under -5% gain • 25%
Highly negative, under -15% gain • 25%
Increase in operational capacity • 25%
Decrease in operational capacity • 25%
No significant change • 25%
Operation halts • 25%
Less than 1 EH/s • 25%
1-2 EH/s • 25%
2-3 EH/s • 25%
More than 3 EH/s • 25%
