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Market
Market position of Riot Platforms post-merger by end of 2024
4
Resolution / Starting Odds
Largest miner by EH/s • 33%
Second largest miner by EH/s • 33%
Remains below top two • 34%
Market analysis reports, company disclosures
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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Average performer • 33%
Below average performer • 34%
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2nd place • 25%
3rd place • 25%
Below 3rd place • 25%
Increase by less than 5% • 33%
Increase between 5% and 10% • 33%
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