Business
MGT Capital Collaborates with Bit5ive to Produce 1-Megawatt Crypto Mining Pod
MGT Capital Collaborates with Bit5ive to Produce 1-Megawatt Crypto Mining Pod.
About this update from Mgt Capital Investments, Inc.
[{"type":"text","content":"\n\n\n\nMGT Capital Collaborates with Bit5ive to Produce 1-Megawatt Crypto Mining Pod\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 Collaborates with Bit5ive to Produce 1-Megawatt Crypto Mining Pod\nPR Newswire\nDURHAM, N.C., Aug. 14, 2018\n\n\n\nDURHAM, N.C., Aug. 14, 2018 /PRNewswire/ -- MGT Capital Investments, Inc. (OTCQB: MGTI) announced today it entered into a collaborative venture with Bit5ive LLC to design and manufacture a crypto mining pod capable of operating 1MW of mining hardware. The pod will be branded and sold by Bit5ive as POD5, with MGT retaining naming rights for its corporate owned pods. In return for royalty payments from Bit5ive, MGT is providing its engineering and design expertise as well as capital to develop the final production model. Orders are expected to begin in mid-September 2018. \n\nThe POD5 will be a fully-assembled containerized turnkey solution with all mounting racks, cabling, power distribution hardware, wiring, and networking included.  In addition, the POD5 will offer a proprietary cooling method allowing for maximum density within the container.  Stephen Schaeffer, Chief Operating Officer of MGT commented, \"We believe that the 1-megawatt layout allows for both portability and flexibility to accommodate varying deployments in different locations. We fully intend to utilize the design in the future expansion of our Bitcoin mining operations.\"\n\nRobert Collazo, Founder and Chief Executive Officer of Bit5ive stated, \"The 1-megawatt pod idea was borne from interest of our customer base that was looking for a solution offering greater density within the container form factor. With the collaborative efforts of our team and MGT, we have designed an excellent configuration for a turnkey container requiring minimal setup effort to allow for quick mining startup.\" Further information about POD5 can be found at Bit5ive.com. Sales inquiries should be addressed to [email protected].\n\nAbout MGT Capital Investments, Inc.\n\nOperating in facilities in northern Sweden and Washington State, MGT Capital I...