Riot Blockchain Names Rob Chang CFO; Signs Lease With Facility For Crypto Mining

Riot Blockchain, Inc. (RIOT), which faces a class action lawsuit with charges of artificially inflating prices of its securities with false and misleading statements, announced Wednesday that it has appointed Rob Chang as its Chief Financial Officer.

Chang succeeds Jeffrey McGonegal, who has served as Chief Financial Officer under a retention agreement effective June 30, 2017 (the "Retention Agreement") and employment agreement entered February 2, 2009.

Chang comes to Riot from Cantor Fitzgerald, where he served as Managing Director and Head of Metals & Mining. Chang has 23 years of experience in the financial services industry. He most recently served as the Managing Director and Head of Metals & Mining at a global investment bank where he provided research coverage in precious metals, base metals, lithium, and uranium. He was recognized by Bloomberg as the "Best Precious Metals Analyst" in Q1 2016.

John O'Rourke, Chairman and CEO of the Company, said, "Rob brings significant financial markets experience and a traditional mining pedigree that will be of utility for our cryptocurrency mining plans moving forward."

Riot Blockchain, which was previously a biotechnology company known as Bioptix, Inc., also announced that its unit Kairos Global Technology, Inc has entered into a lease with a facility in the United States that will potentially allow for power capacity of up to 12 Megawatts for cryptocurrency mining operations.

Another blockchain company, Long Blockchain Corp. (LBCC), on Wednesday appointed Loretta Joseph to the Company's Board of Directors as an independent director. Joseph, who has over 25 years of experience in the global financial services industry, serves as the Chair of the Advisory Board of ADCCA, an advocacy group dedicated to ensuring the responsible adoption of Blockchain regulation.

On Wednesday, Riot shares gained 6.2 percent in the regular trading and settled at $10.58.

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