Last week, as stock prices climbed 50% to levels not seen since the 2018 cryptocurrency bullrun, Riot Blockchain (NASDAQ: RIOT) appointed the former head of the stock exchange’s rating committee. of Toronto Hubert Marleau on the Riot Board of Directors.
The Colorado-based company was on the hunt for a new director after the departure of former Canadian Cabinet member Remo Mancini. Marleau brings to Riot extensive regulatory and governance experience, having also served as Governor of the Montreal and Vancouver Stock Exchanges. Marleau also has a solid academic background and is currently chair of a series of conferences on his behalf at the University of Ottawa.
Marleau’s appointment comes in the middle of an exceptionally strong week for the RIOT share price. RIOT closed at $ 6 even after opening the week at $ 4.10, easily outpacing Bitcoin’s nearly 20% rise. Over the year, RIOT is up nearly 500% from $ 1.22.
The appointment of a new director is not the only gesture the mining giant has made in recent weeks. Riot agreed to a massive purchase of 8,000 units and $ 17.7 million of new Antminer S19 Pro Bitcoin mining rigs to expand operations in August.
The purchase may be an effort to stave off the efforts of rival mining company Marathon Patent Group to claim the “Top Miner in North America” crown. As TBEN previously reported, Marathon itself purchased 10,000 S19 Pro units in late October.
Like Riot, the Marathon Patent Group symbol MARA is trading much higher this week, closing at $ 3.39 after an open of $ 2.38 on Monday.