Crypto Stocks Climb with Bitfarms Rising 11%

Tiger Newspress06-14

Crypto stocks climbed in premarket trading. Bitfarms rose 11%; Canaan rose 5%; Bit Digital rose 2.2%; MicroStrategy rose 2%; Coinbase rose 1%.

Thursday evening, bitcoin miner Riot Platforms said it acquired another 1,432,063 shares of Bitfarms for about $2.70 per share, or about $3.87 million.

Riot now owns 57.62 million shares of Bitfarms, or about 14%. This is the latest step in Riot's attempted hostile takeover of Bitfarms.

Bitfarms entered into an agreement to construct a power plant with a capacity of up to 120 MW and to lease a location in Sharon, Pennsylvania. After this agreement, Bitfarms shares (BITF) rose over 15% on Thursday.

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