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MGT Capital Announces Second Quarter 2018 Financial Results
MGT Capital Announces Second Quarter 2018 Financial Results.
About this update from Mgt Capital Investments, Inc.
[{"type":"text","content":"\n\n\n\nMGT Capital Announces Second Quarter 2018 Financial Results\n\n/* Style Definitions */\nspan.prnews_span\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\na.prnews_a\n{\ncolor:blue;\n}\nli.prnews_li\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\np.prnews_p\n{\nfont-size:0.62em;\nfont-family:\"Arial\";\ncolor:black;\nmargin:0in;\n}\n\n\n\n\n\n\nMGT Capital Announces Second Quarter 2018 Financial Results\nCompany Will Hold Investor Update Call at 8:30 AM EDT Today\nPR Newswire\nDURHAM, N.C., Aug. 15, 2018\n\n\n\nDURHAM, N.C., Aug. 15, 2018 /PRNewswire/ -- MGT Capital Investments, Inc. (OTCQB: MGTI) announced the filing of its 2018 Quarterly Report on Form 10-Q with the Securities and Exchange Commission yesterday. The entire document can be viewed at the Company's website or at www.sec.gov.\n\nMGT reported revenues from bitcoin mining of $409,000 in the second quarter of 2018, ending June 30, 2018 versus $388,000 in same quarter in 2017, and $956,000 in the first quarter of 2018. Revenues derived from the bitcoin production of investor owned machines are not included in our reported figures.  Including these partnerships with investor-owned machines, the company produced 162 Bitcoins in the quarter just ended, compared to 94 Bitcoins the first quarter. \n\nNet loss was $6.5 million for the second quarter of 2018, compared to $4.2 million the same quarter of 2017, and $4.5 million for the first quarter of 2018. Net loss in the most recent period included a restructuring charge of $2.5 million relating to the Swedish mining operation. Inclusive of the restructuring charge, net cash used in operating activities increased to $5.3 million for the six-month period ended June 30, 2018, compared to $2.2 million in the corresponding period in 2017. \n\nBalance sheet metrics include cash of $2.3 million and digital currencies of 250,00 as of June 30, 2018. Notes payable totaled $3.8 million and stockholders' equity was $5.9 million on June 30, 2018.\n\nExecutives of MGT will host an investor update call today at 8:30 AM EDT. Shareholders and other interested parties are invited to join the call by dialing 785.424.1738 or 877.830.2591 and use passcode 96507. Further details and replay information can be found on MGT's investor relations page of its corporate website.\n\nAbout MGT Capital Investments...