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Sunday, April 18, 2021

New Generation Miner; the Story of MGT Capital Investments Inc. (OTCMKTS: MGTI)

MGT Capital Investments, Inc. (OTCQB: MGTI) is making a powerful move up the charts on a massive surge of volume in recent days as btc continues on its march northbound.

The Company has been busy operating its 1,500 new generation Bitcoin miners at its Company-owned and managed facility located in LaFayette, GA. The Company stated at current Difficulty Rate they could mine 38 Bitcoin per month. MGI reported $677,000 in sales for the 3 month ended March 21, 2020.

MGT Capital Investments, Inc. (OTCQB: MGTI) is a U.S.- based Bitcoin miner with operations at an owned facility in Georgia. MGTI was the brainchild of JM os JM securty who has since left the Company. Mr. M 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.

The Company operates 1,500 new generation Bitcoin miners at its Company-owned and managed facility located in LaFayette, GA. All miners were purchased from Bitmaintech Pte. Ltd., a Singapore limited company and are collectively rated at approximately 80 Ph/s in computing power. The Company’s miners are housed in five modified shipping containers including two manufactured by Bit5ive LLC of Miami, Florida. A utility substation, adjacent to the several acre property, has access to over 20 megawatts (MW) of low-cost power. The Company’s current electrical load is estimated at slightly over 3.0 MW. The entire facility, including the land, five 2500 KVA 3-phase transformers, the mining containers, and miners, are owned by MGT. As the Company is presently using only one-third of the built-out available electrical load, it is exploring ways to grow its current operations.

The entire LaFayette facility, including the land, five 2500 KVA 3-phase transformers, the mining containers and the miners, are owned by MGT. As we are presently using only one-third of the available electrical load, the Company is exploring ways to grow its current operations. Also of note, MGT has successfully terminated all third-party hosting agreement and has sold all but approximately 1,000 of its S9 Antminers. When they acquired the 1,500 generation Bitcoin miners collectively rated at approximately 80 Ph/s at its facility in LaFayette, Georgia.  The Company stated at current Difficulty Rate they could mine 38 Bitcoin per month.

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MGTI

In January 2020, management completed the initial phase of its plan to consolidate its activities in Company-owned and managed facilities, executing on its expansion model to secure low cost power and grow its cryptocurrency assets. The Company is doing revenues reporting $677,000 in sales for the 3 month ended March 21, 2020.

Back in May the Company announced financial results for the period ended March 31, 2020. Results for the first quarter reflect operations of the Company-owned and managed facility in Lafayette, GA. This site consists of 1,500 new generation Bitcoin miners (nearly all S17 Pro Antminers from Bitmain Technologies), collectively rated at approximately 80 Ph/s in computing power. As previously stated, all third-party hosting arrangements and investor-owned miner agreements were terminated by year-end 2019. Revenue for the three months ended March 31, 2020 totaled $677,000, reflecting nearly a full quarter of mining at the site.

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Currently mkaing a powerful run up the chart MGTI is an exciting story developing in small caps; a bitcoin miner; the Company operates  1,500 new generation Bitcoin miners at its Company-owned and managed facility located in LaFayette, GA. The Company stated at current Difficulty Rate they could mine 38 Bitcoin per month and revenues are beginning to come in fast; MGI reported $677,000 in sales for the 3 month ended March 21, 2020. Penny stock speculaators see a bitcoin miner as a great place to be as BTC sets up to make new highs. We will be updating on MGTI when more details emerge so make sure you are subscribed to Microcapdaily so you know what’s going on with MGTI.

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Disclosure: we hold no position in MGTI either long or short and we have not been compensated for this article.

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