Bitcoin miner RiotBlockchain names a new CFO, an internal hire; the current CFO will serve as a senior adviser to the firm with both moves coming in mid-August. Reports Aoyon_A
One of the largest publicly traded bitcoin miners, Riot Blockchain, appointed Colin Yee, its current head of corporate and financial operations, as the new CFO, effective Aug. 15.
The change in CFO comes as the shares of the miner have fallen about 72% this year, inline with its peers Core Scientific and Marathon Digital. The bitcoin mining industry has been rocked by bitcoin's declining price since last November. The current CFO Jeff McGonegal will retire from his position as CFO and move into a new role as senior advisor to Riot on the same day, according to aMcGonegal is expected to remain employed by Riot through the terms of his employment agreement, ending Feb. 7 of next year, to ensure a smooth transition. After that he is expected to enter into a consulting agreement with the miner
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