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Monday, 06/12/2017 9:33:20 AM

Monday, June 12, 2017 9:33:20 AM

Post# of 36724
As more and more bitcoin miners pour resources into mining a limited number of bitcoins the more the difficultly goes up.

https://bitcoinwisdom.com/bitcoin/difficulty

Notice on the 9 month chart in January when the price of bitcoin began its monumental run how the rate of increase in difficulty jumped as more and more miners invested in capacity. Then notice the ballistic increase in difficulty in May as the price of bitcoin skyrocketed and made huge increases in mining capacity a no-brainer.

If the current rate of increase in difficulty continues, by the time MGTI reports on the results of its July 2017 increase to 18 Petahash capacity (the 10Q should be out by Nov 2017), the estimated revenues could be less than half than what was initially reported, if not more.

Don't expect stock price for MGTI to go up a whole lot unless even more mining capacity is announced.
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