A committee of the board considering the approach “determined it significantly undervalues the company and its growth prospects,” the Toronto-based firm said Wednesday. “In order to advance discussions with Riot in a meaningful manner, the committee requested customary confidentiality and non-solicitation protections to which Riot did not respond.”
![Bitfarms Says Riot Bid ‘Significantly Undervalues’ Crypto Miner, Is Exploring Options Bitfarms Says Riot Bid ‘Significantly Undervalues’ Crypto Miner, Is Exploring Options](https://www.coindesk.com/resizer/j1qjhpx5hwRcipeOqsJvjCgr_8s=/1200x628/center/middle/cloudfront-us-east-1.images.arcpublishing.com/coindesk/YCPQCPI5NFF5FG57A2AAE5RWL4.jpg)