Bitfarms Ltd. has recently implemented a shareholder rights strategy in order to safeguard the integrity of its current Strategic Alternatives Review Process. The Board unanimously agreed to this plan, which involves granting rights to shareholders to prevent hostile takeovers. Riot Platforms Inc., holding an 11.62% stake in Bitfarms, launched an unsolicited bid to acquire all outstanding shares and intends to call for a special shareholder meeting. However, the Special Committee, upon careful review of Riot’s offer, concluded that it undervalued the company and thus turned it down. The rights plan sets limits on acquisitions exceeding 15% of shares unless they comply with specific “Permitted Bid” provisions, ensuring a fair assessment of all strategic options. Shareholders will have the opportunity to ratify the plan within the next six months, with approval from the Toronto Stock Exchange also required.