The Bitcoin mining giant arranged its new director with an amazing institutional track record.
Last week, when stock prices rose more than 50% to incredible levels that once appeared during the bull run on cryptocurrencies in 2018, Riot Blockchain (NASDAQ: RIOT) scheduled the former head of the Stock Exchange’s listing committee, Toronto Securities, Hubert Marleau, to Riot’s Board of Directors.
The Colorado-based firm was looking for a new director after the departure of former Canadian cabinet member Remo Mancini. Marleau brings an expansive range of governance and regulatory experience to Riot and also played the role of governor of the Montreal and Vancouver stock exchanges. Marleau also possesses a solid academic background and currently serves as chair of a series of conferences at the University of Ottawa.
Marleau’s appointment comes amid an unusually strong week for the company’s stock price. RIOT closed at $ 6 even after opening the week at $ 4.10, easily outpacing Bitcoin’s nearly 20% rise. So far this year, RIOT is up almost 500% from $ 1.22.
Arranging a new director is not the only move in the mining giant made in recent weeks. Riot approve the purchase of a massive 8,000-unit, $ 17.7 million of new Antminer S19 Pro Bitcoin mining rigs to expand operations in August.
The purchase is an effort to create preventive measures about the attempting by rival mining company Marathon Patent Group to snatch the crown of “Best Miner in North America.”
What is Riot Blockchain?
Riot Blockchain focuses its efforts on supporting the bitcoin environment through proof-of-work mining. They believe in and invest in the bitcoin opportunity and set solid strategies that aim to the growing of mining operation, and that demonstrates its compromise and commitment to the bitcoin network.
Riot is one of the largest U.S.-based publicly-traded bitcoin miners in North America, and they are continuously working to improve their efficiency and production.
Riot Blockchain’s investments in unique projects, decentralize markets; combining real-world applications with an active development team, strong fundamentals, and large addressable markets.
By: Jenson Nuñez.
