Riot Platforms (RIOT) on Tuesday announced a proposal to acquire Bitfarms (BITF) for $2.30 a share, a 14% premium from Friday’s closing price, B. Riley tells investors in a research note. Increased M&A activity is a major positive for the space, the firm says, adding that it hopes Riot’s move spurs increased activity across the space, which has not engaged in major transactions despite obvious overhead and procurement synergies. B. Riley made no change to its Buy rating or $15 price target on Riot Platforms’ shares.
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