Last week, when stock prices rose more than 50% to levels not seen since the bull’s work on cryptocurrencies in 2018, Riot Blockchain (NASDAQ: RIOT) appointed Hubert Marleau, former Toronto Stock Exchange listing committee chairman, to Riot’s board.
The Colorado-based firm was looking for a new director after the departure of former Canadian cabinet member Remo Mancini. Marleau brings Riot a wide range of governance and editing experience, He also served as governor of the Montreal and Vancouver stock exchanges. Marleau also has a strong academic background and is currently chairing a series of named conferences at the University of Ottawa.
Marleau’s appointment came in the middle of an unusually strong week for the company’s stock price. RIOT closed the week at $ 6 even after opening the week at $ 4.10 and easily surpassed Bitcoin’s nearly 20% increase. RIOT has increased nearly 500% from $ 1.22 so far this year.
The mining giant’s only move in recent weeks is not appointing a new manager. Riot agreed to purchase the new $ 17.7 million Antminer S19 Pro Bitcoin mining rig with 8,000 units to expand its operations in August.
The acquisition may be an attempt to evade the initiatives of the rival mining company. The Marathon Patent Group will grab the “Best Miner in North America” crown. As Cointelegraph previously reportedMarathon purchased 10,000 S19 Pro at the end of October.
Like Riot Marathon Patent Group MARA shares are trading much higher during the week, closing at $ 3.39 after opening from $ 2.38 on Monday.