Riot Blockchain Announces Independent Proxy Advisory Firms

Castle Rock, CO, Oct. 27, 2022 (GLOBE NEWSWIRE) — Riot Blockchain, Inc. (NASDAQ: RIOT) (“Riot,” “Riot Blockchain” or “the Company”), an industry leader in Bitcoin (“BTC”) mining and hosting, is pleased to report that, in respect of its upcoming Special Meeting of stockholders (the “Special Meeting”), each of Institutional Shareholder Services (“ISS”), Glass, Lewis & Co. (“Glass Lewis”), and Egan-Jones Proxy Services (“Egan Jones”), the leading independent proxy advisor firms providing voting recommendations to institutional investors, have recommended that the Company’s stockholders vote FOR Proposal No. 1, to increase the number of shares of Riot common stock, authorized for issuance.

In their recommendations to stockholders on voting FOR the increase, each of ISS, Glass Lewis, and Egan Jones agreed with the Company’s Board of Directors on the need for additional shares.

Please note that this approval does not necessarily mean that the newly authorized shares will be issued, only that they will be available, if needed, in pursuit of value-developing opportunities which will drive shareholder value. 

YOUR VOTE IS IMPORTANT – PLEASE VOTE TODAY

The proxy voting deadline is 11:59 p.m. ET on November 16, 2022.

We encourage you to vote well in advance of the deadline.

Proposal No. 1 – Increase Common Stock Authorized for Issuance

By increasing the number of authorized shares of Riot common stock now, the Company will be able to act in a timely manner if and when the Company’s Board of Directors believes it is in the best interests of the Company and its stockholders to take strategic action, without the delay and expense that would be required at that time to obtain stockholder approval to increase the authorized shares. By increasing the number of authorized shares of common stock, Riot will have greater flexibility to pursue value-developing opportunities, which may include, among others, corporate…