Bitfarms adopts new poison pill to block Riot's hostile takeover attempt

Bitfarms, a Bitcoin miner, has implemented a new "poison pill plan" after winning a lawsuit against Riot Platforms over its first shareholder equity plan, aimed at helping to prevent Riot from acquiring the company. Riot announced on Wednesday that the original "poison pill plan" implemented by the Bitfarms board has been immediately stopped after applying to the Ontario Securities Commission. The adoption of the new "poison pill plan" still requires approval from the Toronto Stock Exchange, and Riot may again apply to the court to invalidate the plan.