---
schema_version: "secwatch.filing_event.v1"
accession: "0001104659-24-065414"
form_type: "8-K"
ticker: "RIOT"
cik: "0001167419"
company_name: "Riot Platforms, Inc."
filed_at: "2024-05-28T23:59:59+00:00"
generated_at: "2026-06-01T07:54:21.538810+00:00"
event_type: "m_and_a"
sentiment: "positive"
materiality_score: 0.85
calibrated_materiality_score: 0.85
confidence: "high"
source: SEC EDGAR
---

# Riot offers US$2.30/sh for Bitfarms (≈$950M equity), 24% premium to create largest public Bitcoin miner

## Summary
- Proposal: cash + stock; Bitfarms shareholders would own ~17% of combined entity; no financing contingency.
- Riot accumulated 9.25% stake, becoming Bitfarms' largest holder; plans to requisition special meeting for new independent directors.
- Combined company would have ~1 GW power, 19.6 EH/s self-mining, with up to 1.5 GW/52 EH/s by year-end.
- Riot's balance sheet: >$700M cash, 8,872 unencumbered BTC, de minimis debt; will fully finance Bitfarms' growth.
- Original proposal delivered Apr 22 but rejected without dialogue; Riot raises governance concerns after CEO termination.

## SEC filing metadata
- accession: 0001104659-24-065414
- form_type: 8-K
- ticker: RIOT
- cik: 0001167419
- company_name: Riot Platforms, Inc.
- filed_at: 2024-05-28T23:59:59+00:00
- event_type: m_and_a
- sentiment: positive
- materiality_score: 0.85
- calibrated_materiality_score: 0.85
- confidence: high
- sec_items: 8.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1167419/000110465924065414/0001104659-24-065414-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1167419/000110465924065414/tm2415618d1_8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001104659-24-065414
- JSON: https://secwatch.observer/filing/0001104659-24-065414.json
- Plain text: https://secwatch.observer/filing/0001104659-24-065414.txt

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.