On June 24, 2024, Bitfarms Ltd. confirmed that it has received a shareholder meeting requisition from Riot Platforms, Inc. The Company issued a statement that the Board of Directors and management team are committed to acting in the best interests of the Company and all of its shareholders. In that regard, the Board established a Special Committee of independent directors to conduct a strategic alternatives review process to thoroughly evaluate all opportunities to maximize shareholder value. The Special Committee determined that Riot Platforms?

April 22, 2024, proposal of $2.30 per share significantly undervalued the Company and offered to enter into a confidentiality and standstill agreement with Riot Platforms and provide additional information about the Company so that Riot Platforms could improve its proposal. The Special Committee is disappointed that Riot Platforms declined to engage constructively and participate in the process, and instead has continued to take steps to attempt to undermine the integrity of the process and harm the interests of other Company shareholders. The Company added that it remains committed to constructive engagement with all shareholders and will review the requisition and provide an update in due course.