Riot Blockchain, Inc. one of the top Bitcoin mining companies in the United States, announces the appointment of Benjamin Yi as New Executive Chairman, and that Lance D’Ambrosio has been appointed to the Company’s Board of Directors, as an independent director.
Appointment of Executive Chairman, Benjamin Yi
The New Executive Chairman, Benjamin Yi has served as an independent director on the Riot’s Board of Directors since October 2018 and as Chairman of the Board since November 2020. As Executive Chairman, he will continue to work closely with Riot’s executive management team to execute upon the Company’s mission to become one of the most relevant and significant companies supporting the Bitcoin network and greater Bitcoin ecosystem.
During Mr. Yi’s tenure to-date, the Company’s collective achievements include:
- Significantly improved operating and financial profiles, including the attainment of profitability;
- A reconstituted and more diverse Board of Directors;
- A reconstituted, operationally streamlined management team;
- The announcement of a transformative transaction, creating a US-based industry leader in Bitcoin mining via the planned acquisition of Whinstone US, the largest Bitcoin hosting facility in North America, as measured by developed capacity.
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 particular expertise in fintech-enabled businesses, specialty finance, and special situations investing throughout a company’s capital structure.
Appointment of New Director, Lance D’Ambrosio
Riot is also pleased to announce that Lance D’Ambrosio has been appointed to the Company’s Board of Directors, effective today.
Lance D’Ambrosio, age 64, is a successful entrepreneur, private investor, corporate director, and a past recipient of the Ernst & Young and Merrill Lynch Entrepreneur of the Year Award in the category of e-Software & Services. Currently, he serves as Managing Partner of 4 D Investments, which focuses on technology and real estate investments. Mr. D’Ambrosio has founded and grown several companies spanning several industries, including the telecommunications, materials, and automotive sectors.
Over the course of his career, he has led capital raising efforts totaling hundreds of millions of dollars, executed on over thirty corporate acquisitions, successfully taken a number of companies public on both US and international exchanges, and successfully sold several businesses to larger market participants, including Sprint Telecommunications and Comsat International, a subsidiary of Lockheed Martin.
Mr. D’Ambrosio brings significant corporate governance experience to Riot’s Board, including expertise in financial analysis, mergers and acquisitions, and complex international structuring. Mr. D’Ambrosio graduated from the University of Utah in 1979 with a Degree of Bachelor of Science in Marketing and a Bachelor of Science Degree in Management as a member of the Dean’s Honor List.
Appointment of New Lead Independent Director
Riot is also pleased to announce that the Board of Directors has unanimously elected Hubert Marleau as Lead Independent Director, effective today. Mr. Marleau has served as an independent director since November 2020 and currently serves as the Chair of the Governance and Nominating Committee.