Marleau was previously Governor of the Montreal and Vancouver Stock Exchanges.
Riot shares jumped 50% last week after sluggish 2020
After releasing Q3 2020 financial data that shows increased mining revenues and margins, Riot Blockchain announced changes at the board level.
NASDAQ-listed Riot Blockchain, one of the few publicly traded companies operating Bitcoin Formula, recently made changes to its board of directors . A short press release posted on Riot’s website states that Remo Mancini amicably resigned from the board with immediate effect:
Sir. Mancini’s decision to resign from the company’s board of directors is not the result of a disagreement with the company’s operations, policies or procedures.
Marleau for the role
The company also announced that it has appointed Hubert Marleau to fill the vacant seat . Mr. Marleau brings with him a wealth of experience in macroeconomic policy and analysis, corporate governance, financial analysis and investment banking. Most notable is Marleau’s tenure as Governor of the Montreal and Vancouver Stock Exchanges and Administrator of the Toronto Stock Exchange. These continued high profile appointments ranging from the traditional financial system to the cryptocurrency financial system lend additional legitimacy to the crypto space.
Riot Blockchain also made headlines last month after announcing it bought an additional $ 6 million in Bitcoin mining equipment from Bitmain. This purchase was in addition to many other mining equipment purchases from Bitmain for much of 2020.
More than 15,000 miners were purchased in August. At the time, Mancini said the company’s strategic transformation was well underway. Riot was working to become one of the largest Bitcoin miners in North America. Mancini also said at the time that Riot would achieve positive cash flow at the end of 2020.
The outlook is certainly good as Riot shares have jumped 50% this week .