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Bitfarms Says Riot Bid ‘Significantly Undervalues’ Crypto Miner, Is Exploring Options

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.”

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