Riot Blockchain Appoints New Exec Chairman, Announces Two Other Staff Moves

Lance D’Ambrosio has been elected to the US-listed Bitcoin mining company's Board of Directors.

The US-listed Bitcoin mining company, Riot Blockchain (Nasdaq: RIOT) announced a series of new appointments on Monday, including promoting Benjamin Yi as Executive Chairman, Lance D’Ambrosio selected to the company’s Board of Directors, and Hubert Marleau as the new Lead Independent Director.

According to the press release, Yi has been on the Board of Directors since October 2018, serving as an Independent Director until November 2020, where Riot Blockchain promoted him to become the Chairman of the Board.

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Yi had held several executive roles within the financial industry, including having worked at Canada-based IOU Financial Inc. as the Head of Capital Markets and Corporate Development before joining the US-listed crypto mining firm, per his LinkedIn profile. He also earned a Bachelor of Commerce and a Master of Finance from the University of Toronto.

“Mr. Yi brings significant experience in corporate strategy, corporate development and governance to the Riot management team. In addition to having served as a director of several public and private companies, he also brings over sixteen years of unique capital markets experience to the management team, with a particular expertise in fintech-enabled businesses, specialty finance and special situations investing throughout a company’s capital structure,” said Riot Blockchain in the announcement.

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Moreover, D’Ambrosio will take the lead in Riot Blockchain’s Board of Directors, whose professional background comes from several industries, including the telecommunications, materials and automotive sectors. He was the past recipient of the Ernst & Young and Merrill Lynch Entrepreneur of the Year Award in the category of e-Software & Services.

In addition, Marleau is now the Lead Independent Director of Riot Blockchain after serving around six months as an Independent Director. In parallel, he is the Chair of the Governance and Nominating Committee.

Latest Business Moves Done by Riot Blockchain

Riot Blockchain has been active within the crypto mining sphere over the last few months. Finance Magnates reported last month that the US-listed firm acquired Whinstone US Inc., a Texas-located data center operated by Northern Data AG, for a total of around $651 million.

Furthermore, another big maneuver recently completed by Riot Blockchain was the purchase of 42,000 mining machines from the BTC mining hardware provider giant, Bitmain.

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