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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.
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."
Free Level 2
Share Structure as of January 31, 2017
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.
"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.
McAfee said most of his remaining riches were in the vast art collection he left behind. He claims that the Belize government auctioned off many of his belongings, but his art pieces never showed up.
McAfee is now living in an apartment in Montreal, Canada, with his wife Janice. He's getting by on consulting work -- shelling out advice to firms on acquisitions, technology and internal restructuring." http://money.cnn.com/2014/01/08/technology/john-mcafee/
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/
MGT changed to MGTI, and delisted from the NYSE Amex to the OTC.:
Who is the face of Future Tense? Janice Dyson, John McAfee's hooker and career criminal.
"McAfee's girlfriend, Janice Dyson, is a former stripper and prostitute. They first met in Miami.
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..."
18 April 2017 - MGTI becomes DELINQUENT FILER and earns OTC Markets STOP SIGN.
Bath Salts Johnny is G-O-N-E, baybee, G-O-N-E.
"John McAfee disappeared from the public markets after MGT Capital Inc. severed ties with the controversial antivirus software developer, but now he’s back and advising a cryptocurrency startup that’s conducting an initial coin offering."
No D-vasive. No Demonsaw. No McAfee secure phone. No Sentinel sales. No nuffin.