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With facilities in WA state, MGT Capital Investments, Inc. (OTCQB: MGTI) 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 (former) 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 was released in October 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.
The Company currently owns or operates approximately 5,000 Bitmain Antminer S9 Bitcoin mining rigs and 50 GPU-based Ethereum miners, capable of generating over 65 Ph/s of computing power when fully deployed by the end of February. Moreover, MGT is in negotiations that would triple its mining power over the next several months. From a financial standpoint, the Company has never been stronger, ending last year with $9.5 million of cash, no debt and minimal payables.
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Share Structure as of January 31, 2017
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Crypto Currency: MGT is positioned to become the preeminent crypto-mining enterprise in the United States at a most opportune time. Under the leadership of Stephen Schaeffer, President of MGT Crypto-Capital Strategies, MGT has aggessively increased our footprint in this rapidly expanding industry. We operate multiple locations with contracted, low-cost hydro-electric power in central Washington state, managed expertly by Robert Collazo and the Bit5ive Team.
Sentinel is a system engineered by John McAfee to turn the tide. Designed using the Proactive Anti-Hacking model, Sentinel watches your network and reacts instantly when suspicious activity is noticed. Recent high-profile data breaches have lasted for months before being noticed.
Privacy Phone: Introducing the world's first smartphone featuring hard kill switches, empowering its users to take back control of their privacy. All phones feature a built-in privacy control center giving users full control of access and functions of their phone.
Version 1 of the Privacy Phone gives our users enormous power over his or her privacy.
- Bank of air-gap switches to secure communications and hardware Resistant to Stingray or any other IMSI catcher device Web search anonymizer prevents searches from triggering an avalanche of ads Developed in the United States, designed in Denmark, and assembled in Europe Version 2 coming in February 2018
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As part of its corporate investment in secure technologies, MGT continues to grow its capacity for mining Bitcoin. Expanding on existing operations, the Company's facility in Washington state is one of the largest North American Bitcoin miners.
The size and power efficiency of our facilities will allow MGT to emerge as a domestic leader in cryptocurrency mining at an opportune time. With the growth in adoption of Bitcoin as well as the trending rise in the value of Bitcoin, mining is extremely profitable and allows the Company to return value to the shareholders.
This significant commitment to an in-house mining facility also prepares MGT for the increased processing demands of the many new Blockchain technologies on the horizon. As the demand for transaction processing grows, MGT will redirect its mining machines towards supporting other tasks on the Blockchain.
MGT maintains a strong working relationship with the senior management of Bitmain technologies. Bitmain is recognized as the industry leader in manufacturing of Bitcoin mining hardware. This strategic relationship affords MGT accessibility to Bitmain’s newest and most technologically advanced hardware.
BITCOIN MINING OPERATIONS
Jan. 26, 2018 /PRNewswire/ -- MGT Capital Investments, Inc. (OTCQB: MGTI) today announced the end of its business relationship with legendary cybersecurity pioneer John McAfee. Since August 2017, Mr. McAfee had served as Chief Cybersecurity Visionary of the Company, guiding the development of the Company's cybersecurity business, including Sentinel, an enterprise class network intrusion detector released in October 2017 and the previously announced privacy phone. MGT's board will consider various options for its cybersecurity business, including a sale or spinoff.
Mr. McAfee summarized today's actions by stating, "I would like to thank Steve, Rob Ladd and the entire board for giving me the opportunity to return to corporate life, but I am very happy with my decision. I am looking forward to toiling in obscurity as the world's foremost authority of all things cyber and crypto! In all candor, the past two years have been action-packed and productive, and I want to thank all shareholders for their support. I leave MGT in much stronger condition than when I arrived and remain a major stakeholder."
"On Tuesday, McAfee told CNNMoney he's lost everything. Only a tiny fraction of his one-time $100 million net worth survived the 2008 market crash. But his fortunes really took a hit in 2012, when McAfee fled Belize police who aggressively sought him for questioning on the death of his neighbor.
The government raided his jungle compound and seized everything inside. The buildings on McAfee's property later burned down under suspicious circumstances.
"Everything I owned was in Belize. I left with nothing in my pocket," he said
Actual unretouched selfie of John McAfee - seriously!
"Known for his outspokenness and getting himself into a spot of trouble, John McAfee is certainly a colourful character in the tech industry. Since he became a suspect in the death of his neighbour in Belize back in 2012, McAfee has been arrested for driving under the influence with a handgun, revealed he is running for President, and released a bizarre video featuring scantily clad women, ‘bath salts’ and a guide on how to uninstall McAfee Antivirus." - http://money.cnn.com/2014/01/08/technology/john-mcafee/
JANICE DYSON: He was visiting and from Belize. I met him on South Beach. He was at the cafe, having a cup of coffee and I'd walk by with my girlfriend and when he saw my butt he said that he had to know who I was and so he told me I have the finest ass in Miami, which..."