$MGTI is buying another 2000 bitcoin rigs.
DURHAM, N.C., Oct. 12, 2017 /PRNewswire/ -- MGT Capital Investments, Inc. (MGTI) announced today that it has executed a new purchase order with Bitmain Technologies for an additional 2,000 S9 Antminer mining rigs, with shipment expected by the end of fourth quarter 2017.
Funds for the large order were provided by institutional investors though agreements whereby MGT will manage the mining operations and receive a management fee as well as a share of the profits. This financial arrangement creates downside protection for the Company while still providing strong economic upside leverage. Stephen Schaeffer, President of MGT Crypto-Capital Strategies, stated, "We believe having a mix of fully-owned and investor-owned mining rigs will allow us to appreciably expand our crypto currency footprint with less equity dilution. We plan to shortly update the investment community and shareholders with further details."
About MGT Capital Investments, Inc.
With facilities in WA state, MGT Capital Investments, Inc. (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 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.
For more information on the Company, please visit: http://www.mgtci.com
DURHAM, N.C., Oct. 12, 2017 /PRNewswire/ -- MGT Capital Investments, Inc. (MGTI) announced today that it has executed a new purchase order with Bitmain Technologies for an additional 2,000 S9 Antminer mining rigs, with shipment expected by the end of fourth quarter 2017.
Funds for the large order were provided by institutional investors though agreements whereby MGT will manage the mining operations and receive a management fee as well as a share of the profits. This financial arrangement creates downside protection for the Company while still providing strong economic upside leverage. Stephen Schaeffer, President of MGT Crypto-Capital Strategies, stated, "We believe having a mix of fully-owned and investor-owned mining rigs will allow us to appreciably expand our crypto currency footprint with less equity dilution. We plan to shortly update the investment community and shareholders with further details."
About MGT Capital Investments, Inc.
With facilities in WA state, MGT Capital Investments, Inc. (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 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.
For more information on the Company, please visit: http://www.mgtci.com
