MGTI - Awesome bitcoing news today. Exec will be on CNBC later today. Huge move coming.
MGT Capital Provides Bitcoin Mining Update
PRNewswire FOLLOW
August 17, 2017 9:45am Comments
DURHAM, N.C., Aug. 17, 2017 /PRNewswire/ -- MGT Capital Investments, Inc.
MGTI 10.36%
Today, MGT announced the deployment of 650 new Bitmain S9 Bitcoin mining rigs. These units are located at a new multi MegaWatt facility in central Washington state. The Company anticipates completing the installation and reaching full production within the next two weeks. The incorporation of these new mining rigs continues MGT's strategy to boost its competitive edge in this rapidly growing industry.
Stephen Schaeffer, President of MGT Crypto-Capital Strategies stated, "With the recent highs of $4,500 per bitcoin, the business of mining is as profitable as ever. I couldn't be more excited about the timing of my new appointment, and I truly believe we will build MGT into a mining powerhouse in the U. S."
The Company recently passed a milestone of having mined 1,000 bitcoins since it began operations in September 2016. Robert Ladd, Chief Executive Officer of MGT commented, "We are committed to this sector and look forward to updating stockholders on our continuing growth."
About MGT Capital Investments, Inc.
With facilities in WA state, MGT Capital Investments, Inc.
MGTI 10.36%
ranks as one of the largest U.S. based Bitcoin miners. Further, the Company continues to focus on an expansion model to grow its crypto assets materially.
The Company is also developing a portfolio of cyber security technologies, with industry pioneer John McAfee as its visionary leader, creating advanced protection technologies for mobile and personal tech devices, as well as corporate networks. The Company's first product, Sentinel, an enterprise class network intrusion detector, is currently in beta testing, with commercial release anticipated by the end of September 2017. The Company also has entered into a joint venture with Nordic IT to develop and market a mobile phone with extensive privacy and anti-hacking features. The Privacy Phone has a tentative release date of February 2018
