ChainCatcher news, according to CoinDesk, Bitcoin mining company Bitfarms has announced its agreement to acquire competitor Stronghold Digital (SDIG) for $175 million.Bitfarms stated in a press release that the offer includes exchanging 2.52 shares of Bitfarms stock for each share of Stronghold, representing a 71% premium over Stronghold's 90-day volume-weighted average price on Nasdaq as of August 16. Stronghold indicated in May that it was exploring strategic alternatives, including the sale of the company.Previous news, as reported by Bloomberg citing informed sources, Bitcoin mining company Bitfarms is negotiating to acquire Stronghold Digital Mining Inc. for approximately $164 million, while also fending off acquisition attempts from Riot Platforms Inc.

ChainCatcher news, the encrypted mining company Riot Platforms stated in a declaration on July 24 that the Ontario Capital Markets Tribunal issued a cease trading order on Bitfarms' poison pill plan, immediately terminating the strategy.Since June 13, Bitfarms has been opposing Riot Platforms' $950 million acquisition offer, claiming that Riot unfairly undervalued the company. The company adopted a poison pill strategy known as a "rights plan" to attempt to block the acquisition.Poison pill strategies are typically used by companies to prevent hostile takeovers. Under this strategy, existing shareholders purchase additional shares at a significant discount, diluting the value of the shares held by the acquirer. According to Bitfarms' now-defunct rights plan, if any entity acquires more than 15% of the company's outstanding shares before September 10, Bitfarms will issue new shares to other existing shareholders, thereby reducing that entity's ownership.

ChainCatcher news, according to CNBC, Elon Musk has been ordered by a U.S. judge to testify in court documents on Saturday regarding the investigation into his 2022 acquisition of Twitter. The U.S. Securities and Exchange Commission (SEC) is investigating whether Musk or others committed securities fraud during the process of the billionaire starting to buy Twitter shares and building a stake before acquiring the social media company.Musk completed the acquisition of Twitter in October 2022 for approximately $44 billion and has since rebranded it as X.In an order dated February 10, 2024, Federal Judge Laurel Beeler wrote that although Musk and his legal team believe the SEC's subpoena in this matter constitutes harassment of the billionaire, the federal financial regulatory agency is "within its rights," and their subpoena is "clear and seeks relevant information" for the investigation. The federal financial regulatory agency and Musk now have one week to determine the date and location of his testimony.Musk, his lawyers, and the U.S. Securities and Exchange Commission have not immediately responded to requests for comment.