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Riot Platforms' stock price up post-Bitfarms acquisition?
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Yes • 50%
No • 50%
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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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Riot Platforms outperforms • 50%
Bitfarms outperforms • 50%
First • 33%
Second • 33%
Third or lower • 34%
Approved without conditions • 33%
Approved with conditions • 33%
Rejected • 34%
Positive, over 15% gain • 25%
Neutral, between -5% and +15% gain • 25%
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Highly negative, under -15% gain • 25%