MGT Capital Investments Inc. (MGTI)

[SteveWin]

I did some quick, rough math. It looks to me like MGTI has about 860 (operating), 170 (on hand awaiting setup) and 3650 (on order)... 4680 (total) of Antmuner S9 mining rigs at 13 TH/s each. Total (when all received & installed) of 64 PH/s of mining capacity.

Slush Pool was running today with a combined 1200 PH/s of mining capacity, and at that rate they were solving one block every 90 minutesz and receiving about 15 BTC for each block. That's 240 BTC per day.

MGTI's target capacity will be 5% of Slush Pool, so we can forecast about 12 BTC every day to MGTI. At $12,000/BTC, that's $144,000 per day of revenues, less about a third for costs, is about $96k per day. Call it $100k, times 365 days, is 36 million per year.

36 million per year (forecasted earnings) over 48 million shares, works out to a $0.75/share earnings forecast. Which makes today's closing price at just over a PE ratio of 3.

That's not too shabby. In fact, that makes MGTI look like a bargain to me!