Bitcoin Miner Riot Platforms Ditches Bitfarms Takeover Bid, Seeks to Overhaul Board. Riot is Bitfarms' largest shareholder, owning 14.9% of the firm.Bitcoin miner Riot Platforms (RIOT) dropped its proposal to buy peer Bitfarms (BITF) and is looking to overhaul the board before engaging in further takeover attempts."Over the course of more than a year of attempting to engage constructively with the Bitfarms Board regarding a potential combination of Bitfarms and Riot, it has become evident to Riot that good faith negotiations simply will not be possible until there is real change in the Bitfarms boardroom," Riot said in a press release on Monday.
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 Bitcoin mining company Riot Platforms has decided to abandon its hostile takeover bid for Bitfarms, another bitcoin mining firm. Riot, which currently holds a 14.9% stake in Bitfarms, had offered to acquire all outstanding shares of the company for about $950 million. However, Bitfarms rejected the proposal, considering it to be a lowball offer 

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