Order: Riot Platforms, Inc v Bitfarms Ltd

RIOT PLATFORMS, INC.

Applicant

- and -

BITFARMS LTD. & ONTARIO SECURITIES COMMISSION

Respondents

File No. 2024-11

July 24, 2024

ORDER

(Subsection 127(1) of the Securities Act, RSO 1990, c S.5)

WHEREAS on July 22 and 23, 2024, the Capital Markets Tribunal held a hearing at 20 Queen Street West, 17th Floor, Toronto, Ontario, to consider the application filed by Riot Platforms, Inc. dated June 24, 2024, seeking an order cease trading securities that are or may be issued pursuant to the shareholder rights plan agreement adopted by Bitfarms Ltd. on June 10, 2024 (the Rights Plan);

ON READING the materials filed by Riot Platforms, the Special Committee of Bitfarms (previously granted intervenor status in this proceeding), and the Ontario Securities Commission, and on hearing the submissions of the representatives of each of these parties;

IT IS ORDERED, for reasons to follow, that the application is granted, such that pursuant to paragraph 2 of subsection 127(1) of the Securities Act, all trading shall permanently cease in respect of any securities issued, or that may be issued, in connection with or pursuant to the Rights Plan.