The total electrical load at this production level is estimated at slightly under 4.0 MW. The Company began Bitcoin mining at its LaFayette facility in late September 2019 on a trial basis, and on January 31, 2020, the Company announced it is operating 1,500 new generation Bitcoin miners collectively rated at approximately 80 Ph/s at its facility. Located adjacent to a utility substation, the several acre property has access to over 20 megawatts (MW) of low-cost power. Central to this strategy was the purchase of land in LaFayette, GA and the entry into a favorable contract for electricity there in the second quarter of 2019. McAfee has been very bullish on bitcoin stating “Bitcoin is the greatest and most disruptive technological advancement to come around in years.”….and could go to a million dollars.įollowing a review of its Bitcoin mining operations in early 2019, the Company determined to consolidate its activities in Company-owned and managed facilities. MGTI was the brainchild of security whizz John McAfee who has since left the Company of McAfee Antivirus who spent years in Belize than on the run and back in the US on top again. The Company owns 1,500 new generation Bitmain miners generating approximately 80 Ph/s of hashing power. (OTCMKTS: MGTI) bills itself as a U.S.- based Bitcoin miner with operations at an owned facility in Georgia. MGTI has transformed in recent months from illiquid to one of the top most traded stocks on the entire exchange attracting legions of shareholders who believe this one goes way higher. Microcapdaily has been covering MGTI for years noting in happier times: “MGTI” has seen a parabolic rise in recent months from well under $0.50 back in March of this year when Bitcoin was just $1000 to recent highs over $4 a share. (OTCMKTS: MGTI) is looking for reversal off new 52 week lows as bitcoin and cryptocurrency in general sells off even more than the overall markets. ![]() The pink sheet traded shares loved the news today as MGTI stock spiked close to 20% by the end of the New York trading session.MGT Capital Investments Inc. ![]() As a publicly-traded company, MGT leverages our unique opportunity to provide investors with a suitable proxy to participate in the profitable bitcoin mining space.” Large and respected Bitcoin mining operators will rapidly take over the enormous transaction processing requirements necessary for all companies to secure themselves in the near future. “Our mining pool is a natural outgrowth of our investment in Blockchain technology as a foundation for future cyber security products. ![]() John McAfee, Chief Executive Officer and Executive Chairman of MGT stated: The growth in daily commerce using Bitcoin will increase the importance of aggregated mining pools to verify and report transactions to the Blockchain. With Bitcoin valued at all-time highs, and consumer adoption reaching an inflection point, transaction numbers are expected to grow significantly. based servers.īitcoin mining pools are a mechanism for Bitcoin mining nodes to combine resources, share hashing power and split rewards on a pro-rata basis. Upon launch, MGT aims to offer the world’s most secure mining pool, branded MacPool, using proprietary cybersecurity utilities, and hosted exclusively on U.S. Code development has been completed and security testing is underway. (OTCMKTS: MGTI) today announced that its Bitcoin Mining Pool is scheduled to be fully available to the Bitcoin network early in the second quarter of 2017.
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