Riot Platforms seeks three board seats at Bitfarms after thwarted takeover bid

A worker checks the fans on miners, at the cryptocurrency farming operation, Bitfarms, in Farnham, Quebec, Canada, February 2, 2018. Picture taken February 2, 2018. REUTERS/Christinne Muschi/File photo

(Reuters) -Bitcoin miner Riot Platforms is seeking three board seats at rival Bitfarms, a long-sought acquisition target that has rebuffed its $950 million buyout offer and adopted a poison pill to fend off any attempt at a hostile takeover.

Riot, the biggest shareholder in Bitfarms with a nearly 15% stake, withdrew the offer on Monday but said it was "ready to engage" with the company's reconstituted board about a potential transaction.