Riot Platforms has proposed a hostile takeover of Toronto-based Bitcoin miner Bitfarms, offering $2.30 per share in a deal valued at $950 million. Riot has already acquired a 9.25% stake in Bitfarms and aims to create the world's largest publicly listed Bitcoin miner with a combined mining fleet of approximately 169,000 machines, achieving a target of 51 EH/s by 2024. The offer represents a 24% premium over Bitfarms' recent share price. However, Bitfarms' board has rejected the offer, citing concerns about governance and the interests of shareholders. Riot's CEO, Jason Les, has expressed concerns about Bitfarms' current leadership and governance issues.