Crypto Miner Truce Leaves Open the Possibility of Riot Taking Over Bitfarms

(Bloomberg) — While Bitcoin miner Bitfarms Ltd. has brokered a truce with Riot Platforms Inc. over a months-long takeover fight, the agreement still leaves open the possibility for an acquisition.

Under an pact unveiled Monday, Bitfarms’ Andrés Finkielsztain has stepped down from its board and been replaced by a Riot-backed nominee. Riot agreed that, during the term of the agreement, it will not acquire over 20% or more of the company without the approval of the board, “other than for the sole purpose of or in connection with making a take-over bid,” according to a filing with the Canadian government.