Last week, when share prices rose more than 50% to levels not seen since the bull run on cryptocurrencies in 2018, Riot Blockchain (NASDAQ: RIOT) has appointed former Toronto Stock Exchange Listing Committee Chairman Hubert Marleau to Riot’s Board of Directors.
The Colorado-based company was looking for a new director after the departure of former Canadian cabinet member Remo Mancini. Marleau brings a wide range of governance and regulatory experience to Riot. and also served as governor of the Montreal and Vancouver stock exchanges. Marleau also has a strong academic background and currently chairs a number of named conferences at the University of Ottawa.
Marleau’s appointment comes amid an unusually strong week for the company’s stock price. RIOT closed at $ 4.10 at $ 6 even after the week opened, significantly outperforming Bitcoin by almost 20%. So far this year, RIOT is up nearly 500% from $ 1.22.
Appointing a new director isn’t the only step the mining giant has taken in recent weeks. Riot agreed to purchase new Antminer S19 Pro bitcoin mining equipment valued at 8,000 units and $ 17.7 million to expand operations in August.
The purchase can be an attempt to avoid the attempts of the competing mining company Marathon Patent Group wins “Best Miner in North America” crown. As Cointelegraph previously reportedMarathon bought 10,000 units of the S19 Pro in late October.
Like riot, Marathon Patent Group’s MARA shares trade much higher for the week, closing at $ 3.39 after opening at $ 2.38 on Monday.