Bitfarms Ltd. (Nasdaq/TSX: BITF), a global Bitcoin mining company, has announced that the Toronto Stock Exchange (TSX) will postpone consideration of the company’s tactical shareholder rights plan (Rights Plan). The postponement will remain in effect until TSX is satisfied that the appropriate securities commission will not intervene and the plan is ratified by Bitfarms shareholders by December 10, 2024, according to GlobeNewswire.
Impact of the postponement
The TSX’s decision to delay will not affect the immediate implementation or operation of the Rights Plan, which will remain in effect for at least six months from the date of approval of June 10, 2024, unless terminated earlier. The plan is intended to protect the interests of Bitfarms shareholders by preventing hostile takeovers.
About Bitfarms Ltd.
Founded in 2017, Bitfarms is a vertically integrated Bitcoin mining company. The company operates twelve mining facilities in four countries: Canada, the United States, Paraguay and Argentina. Bitfarms is committed to using environmentally friendly hydropower and long-term power contracts to power its operations.
Bitfarms’ vertically integrated structure allows it to control various aspects of its operations, including proprietary data analytics systems, which improve operational performance and uptime. The company also offers in-house management, electrical engineering, installation services and multiple on-site technical repair centers.
Forward-Looking Statements
Bitfarms has included forward-looking statements in its announcement, noting that they are based on current expectations, estimates and projections. These statements involve risks and uncertainties that could cause actual results to differ materially from those expressed or implied. Factors influencing these outcomes include the digital currency market, regulatory changes and the company’s ability to maintain economic energy resources for its mining operations.
Image source: Shutterstock
. . .
Labels