Bitfarms Releases Statement in Response to Riot's Misleading Statements

Bitfarms issued a statement in response to Riot's proposed requisition and related misleading statements, stating that the upcoming special meeting is not a matter of corporate governance, as Riot has repeatedly claimed, but rather an attempt by Riot to acquire Bitfarms at a discounted price for the benefit of Riot shareholders, not Bitfarms shareholders. Bitfarms also alleges that Riot has refused to constructively engage with it and has instead taken public attacks and actions to the detriment of other Bitfarms shareholders. Bitfarms also alleges that Riot has refused to engage constructively with it and has instead engaged in public attacks and actions to the detriment of other Bitfarms shareholders, and Bitfarms states that the recent board and leadership changes were implemented independently of Riot and not for Riot's benefit or approval. Instead, it is unclear how Riot's nominees will strengthen the board.