What To Know: The launch of website is apart of Riot’s efforts to call a special shareholders meeting for Bitfarms (NASDAQ:BITF) to reconstitute the company’s Board of Directors.

Riot has already chosen three nominees for the board. These nominees would be voted on at the shareholders meeting and shareholders could have the chance to vote on the removal of current board members.

The goal of the website is for Bitfarms’ stakeholders and employees to share their perspectives and learn more about Riot’s efforts to elect board members with a novel perspective.

In Riot’s production and operations update, the company reported it added 7.3 EH/s to its Corsicana Facility Buildings A1 and A2. Previously, Riot set its hash rate goal for the 2024 fiscal-year second quarter at 21.4. With this new addition, Riot has achieved its goal and brought its total capacity to 22 EH/s.

Lastly, the company announced additional transparency regarding its power strategy. Specifically, Riot will start releasing monthly reports that include its cost of power and net of power credits.

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RIOT Price Action: At the time of writing, Riot stock is trading 2.08% lower at $9.44 per data from Benzinga Pro.

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