Last week, with stock prices up 50% to levels not seen since the cryptocurrency’s rise in 2018, Riot Blockchain Corporation (NASDAQ: RIOT) appointed former Toronto Stock Exchange Listing Committee director Hubert Marlowe to the Riot Board of Directors.
The Colorado-based company was looking for a new director after the departure of former Canadian government minister Remo Mancini. Marlow brings a wide range of organizational and management skills to Riot while serving as Managing Director of the Montreal and Vancouver Stock Exchange. Marlow also has a strong academic background and is currently chair of a lecture series on his behalf at the University of Ottawa.
Marlowe agreement comes in the middle of an unusually strong week for the RIOT share price. The RIOT closed at $ 6, even after the week’s opening at $ 4.10, quickly outpacing Bitcoin’s gains by nearly 20%. Over the year, the RIOT rate is up nearly 500% from $ 1.22.
Hiring a new director isn’t the only step the mining giant has taken in recent weeks. Riot agreed to a whopping $ 17.7 million purchase of Bitcoin Antminer S19 Pro mining units worth $ 8,000 to expand its operations in August.
The takeover could be an attempt to stop rival mining company Marathon Patent Group from claiming the title of “Best North American Mining Company”. As Cointelegraph previously reported, Marathon itself acquired 10,000 units of S19 Pro in late October.
Like Riot, the MARA Marathon Patent Group Index is trading much higher this week, closing at $ 3.39 after opening on Monday at $ 2.38.