Bitfarms (BITF) Faces TSX Deferral on Shareholder Rights Plan Consideration

Bitfarms
Ltd.
(Nasdaq/TSX:
BITF),
a
global
Bitcoin
mining
company,
has
announced
that
the
Toronto
Stock
Exchange
(TSX)
will
defer
its
consideration
of
the
company’s
tactical
shareholder
rights
plan
(Rights
Plan).
The
deferral
will
remain
in
place
until
TSX
is
assured
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
Deferral

The
TSX’s
decision
to
defer
does
not
affect
the
immediate
implementation
or
operation
of
the
Rights
Plan,
which
will
remain
effective
for
at
least
six
months
from
its
adoption
date
of
June
10,
2024,
unless
terminated
earlier.
The
plan
is
designed
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
firm
operates
12
mining
facilities
across
four
countries:
Canada,
the
United
States,
Paraguay,
and
Argentina.
Bitfarms
is
committed
to
using
environmentally
friendly
hydro-electric
power
and
long-term
power
contracts
to
fuel
its
operations.

Bitfarms’
vertically
integrated
structure
allows
it
to
control
various
aspects
of
its
operations,
including
proprietary
data
analytics
systems,
which
enhance
operational
performance
and
uptime.
The
company
also
offers
in-house
management,
electrical
engineering,
installation
services,
and
multiple
onsite
technical
repair
centers.

Forward-Looking
Statements

Bitfarms
has
included
forward-looking
statements
in
its
announcement,
noting
that
these
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
affecting
these
outcomes
include
the
digital
currency
market,
regulatory
changes,
and
the
company’s
ability
to
maintain
economical
power
sources
for
its
mining
operations.

Image
source:
Shutterstock

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