Riot Blockchain, Inc. (NASDAQ: RIOT), one of the few publicly traded U.S.-based bitcoin mining companies, has announced a significant leadership shift aimed at accelerating its strategic focus on expanding Bitcoin mining operations. The company has appointed Jason Les as Chief Executive Officer while welcoming Hannah Cho to its Board of Directors as an independent member. This restructuring reflects Riot Blockchain’s commitment to strengthening its executive team and governance framework amid growing opportunities in the digital asset space.
Strategic Leadership Transition for Growth
Jason Les, a long-standing independent director since 2017, now steps into the role of CEO—a move that underscores his deep technical expertise and longstanding involvement with Bitcoin. With over a decade of experience in the cryptocurrency ecosystem since 2013, Les brings a rare combination of engineering insight and firsthand knowledge of blockchain protocol development. He has actively contributed to open-source Bitcoin projects, giving him a foundational understanding of the network’s architecture and evolution.
As CEO, Les will lead Riot Blockchain’s mission to become a key player in supporting the Bitcoin network through scalable, efficient mining operations. His dual role—as both board member and chief executive—ensures continuity in strategic vision while enabling faster decision-making aligned with industry trends.
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Benjamin Yi, Chairman of the Board, emphasized the importance of this appointment:
“In early 2020, Riot made the strategic decision to fully commit to expanding its mining capabilities. This has positioned us well to take advantage of current market dynamics. Jason’s unique background in Bitcoin technology and governance makes him the ideal leader to drive our next phase of growth.”
Les succeeds Jeff McGonegal, who served as CEO since 2019 and will now return to his long-held role as Chief Financial Officer—a position he has maintained since 2003. This transition allows McGonegal to refocus on financial strategy and capital management, supporting Riot’s aggressive infrastructure expansion.
Strengthening Governance with New Board Appointment
Complementing the executive shift, Riot Blockchain has appointed Hannah Cho, a seasoned marketing and communications executive, to its Board of Directors. With over 20 years of experience in enterprise technology, Cho brings a wealth of strategic insight from leadership roles at major tech firms including Intel Corporation, Cisco Systems, CA Technologies, Anaplan, and Edelman.
Currently serving as Vice President of Marketing Communications at BMC Software—a KKR-backed provider of digital transformation solutions—Cho specializes in building brand narratives around complex technologies. Her expertise will be instrumental in enhancing Riot Blockchain’s public presence, investor communication, and stakeholder engagement.
“Hannah is a critical thinker with a proven track record in technology communications,” said Yi. “Her ability to translate technical innovation into compelling stories will help us better articulate our value proposition in an increasingly competitive landscape.”
Core Focus: Scaling Bitcoin Mining Infrastructure
Riot Blockchain’s strategic pivot toward dedicated Bitcoin mining began in earnest in 2020. Since then, the company has focused on acquiring next-generation ASIC miners known for their energy efficiency and high hash rates. These upgrades are central to maximizing profitability while minimizing environmental impact—a growing priority for investors and regulators alike.
The company operates its mining facility in upstate New York under a co-location agreement with Coinmint, one of North America’s largest crypto mining hosting providers. This partnership enables access to reliable power sources and scalable infrastructure, positioning Riot to rapidly deploy new equipment as supply chain constraints ease.
With Bitcoin mining increasingly shifting from overseas markets—particularly China—to North America due to regulatory clarity and energy availability, U.S.-based miners like Riot are well-positioned for long-term growth.
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Key Advantages Driving Riot’s Competitive Edge:
- Fleet of advanced ASIC miners delivering high computational power
- Strong balance sheet enabling capital-intensive expansions
- Strategic industry partnerships enhancing operational efficiency
- Commitment to sustainable practices through energy-efficient operations
These factors collectively support Riot’s goal of becoming one of the most significant contributors to the Bitcoin network’s security and decentralization.
Frequently Asked Questions (FAQ)
Q: Who is the new CEO of Riot Blockchain?
A: Jason Les has been appointed Chief Executive Officer of Riot Blockchain. He previously served as an independent director on the company’s board since 2017.
Q: What experience does Jason Les bring to his new role?
A: Les has been involved in Bitcoin since 2013, with experience in mining operations and contributions to open-source blockchain development. His technical background and governance experience make him uniquely qualified to lead Riot’s growth strategy.
Q: Why did Jeff McGonegal step down as CEO?
A: McGonegal is returning to his role as CFO to focus on financial leadership. He remains a key figure in the company’s management team after serving as CEO since 2019.
Q: Who is Hannah Cho and what does she bring to the board?
A: Hannah Cho is a veteran marketing executive with extensive experience at major tech companies like Intel, Cisco, and BMC Software. Her appointment strengthens Riot’s corporate governance and communications strategy.
Q: Where is Riot Blockchain’s mining operation located?
A: The company’s mining facility is located in upstate New York, hosted by Coinmint under a co-location agreement.
Q: Is Riot Blockchain involved in any other blockchain projects besides mining?
A: While its primary focus is Bitcoin mining, Riot holds non-controlling investments in select blockchain technology companies, though mining remains its core business activity.
Looking Ahead: A Future Built on Decentralization
The appointments of Jason Les and Hannah Cho signal a maturing phase for Riot Blockchain—one defined by stronger leadership, improved governance, and a clear-eyed focus on scaling operations. As global interest in Bitcoin continues to grow, particularly among institutional investors and national treasuries, companies that can efficiently contribute to network security stand to benefit significantly.
Riot’s emphasis on deploying energy-efficient miners aligns with broader ESG (Environmental, Social, and Governance) trends shaping investor decisions. By leveraging cutting-edge hardware and sustainable practices, the company aims not only to increase profitability but also to support the long-term health of the Bitcoin ecosystem.
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As the United States emerges as a hub for responsible Bitcoin mining, Riot Blockchain is positioning itself at the forefront of this transformation—powered by visionary leadership and a commitment to technological excellence.
Keywords: Riot Blockchain, Jason Les, Bitcoin mining, NASDAQ:RIOT, cryptocurrency mining, blockchain technology, CEO appointment, Hannah Cho