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