In the last two years, Riot has already made several additions to its board of directors.
According to a statement released by Riot Blockchain Inc (NASDAQ: RIOT), the Chief Executive Officer of Blockware Solutions Mason Jappa would be joining the advisory board of Riot Blockchain which consists of Pierre Rochard, Yan Pritzker, and Cory Klippsten. Meanwhile, RIOT stock is moving higher. Today in the pre-market the stock is 6.99% up, trading at $25.55.
Jappa, who is an industry leader in the field of mining hardware and hosting, brings to the blockchain a wealth of experience that would drive Riot Blockchain forward. His company, Blockware Solutions, was created in 2017 and since then, it has gone on to establish itself as a market leader in the industry.
Blockware was providing blockchain services and crypto mining services to its broad client base that includes some of the leading mining farms and blockchain companies in the world. The firm had successfully placed 45MW for its hosted clients and sold over 200,000 ASIC miners. Not only that, he successfully geared the company towards creating one of the largest mining pools in the United States, Blockwarepool.
His firm has also acted as a validator for Skale, Dfinity and Ethereum. His experience in the crypto mining sectors has seen him act in the capacity of the managing partner of Blockware Mining, LLC. The Kentucky based mining company has over 300Ph/s and also provides hosting solutions to its clients base.
Jappa would be tasked with helping Riot to optimize its operations while also looking to help the firm evaluate the available growth opportunities. He expressed his joy in joining the advisory team of Riot and believes that his expertise would help the company to push Bitcoin mining hashrate forward in America.
RIOT Stock Is Up amid Changing Board of Directors
In the last two years, Riot has made several additions to its board of directors. During this period, the Bitcoin mining company saw the Addison of Yan Pritzker and Cory Klippsten of Swan Bitcoin, a Bitcoin exchange service, and Pierre Rochard of Kraken to its advisory board.
According to the firm, the advisory board was necessary to help the firm define its mission while also helping the Colorado-based firm to assiduously increase its shareholder’s value. The company would be relying on the advisors’ insights and network to help it achieve its goals. Remo Mancini, a former member of the Ontario legislative arm, resigned from the board in 2020. However, it appears that Jappa would be taking his role in the board.
Riot is currently one of the leading mining companies in the US as it has issued almost 17 million shares, while still having over 67 million outstanding shares to disburse. The blockchain company started out as a biotech firm before pivoting into crypto mining in 2017. Since then, the company has seen its market capitalization reach over $1 billion.