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Market
Competitive response to Riot-Bitfarms merger by mid-2025
4
Resolution / Starting Odds
New mergers or acquisitions announced • 50%
No significant new mergers or acquisitions • 50%
Public announcements from major mining companies
Story
Riot Platforms Acquires 9.25% Stake in Bitfarms, Plans Takeover Bid to Create 51 EH/s Miner
May 28, 2024, 12:06 PM
Riot Platforms has acquired a 9.25% stake in Bitfarms and plans to make a public takeover bid for the smaller Bitcoin mining company. If the acquisition is successful and both companies meet their EH/s targets, the combined entity could become a 51 EH/s miner by 2024, with a mining fleet of approximately 169,000 machines, making it the second largest after Core Scientific (CORZ). This move marks a significant consolidation in the Bitcoin mining industry, with expectations of significant developments this summer.
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Similar markets
Riot Platforms outperforms • 50%
Bitfarms outperforms • 50%
Approved without conditions • 33%
Approved with conditions • 33%
Rejected • 34%
First • 33%
Second • 33%
Third or lower • 34%
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 efficiency • 50%
No change in operational efficiency • 25%
Decrease in operational efficiency • 25%
Largest miner by EH/s • 33%
Second largest miner by EH/s • 33%
Remains below top two • 34%