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MGT Capital Nears 100 Petahash Cryptocurrency Mining Milestone
MGT Capital Nears 100 Petahash Cryptocurrency Mining Milestone.
About this update from Mgt Capital Investments, Inc.
[{"type":"text","content":"\n\n\n\nMGT Capital Nears 100 Petahash Cryptocurrency Mining Milestone\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 Nears 100 Petahash Cryptocurrency Mining Milestone\nAnnounces Purchase of 2,000 Additional Bitmain S9 Antminer Rigs\nPR Newswire\nDURHAM, N.C., Feb. 6, 2018\n\n\n\nDURHAM, N.C., Feb. 6, 2018 /PRNewswire/ -- MGT Capital Investments, Inc. (OTCQB: MGTI) today that it has executed a new purchase order with Bitmain Technologies for 1,000 S9 Antminer mining rigs, with shipment expected in March 2018. Also, the Company purchased and has received an additional 1,000 new S9 Antminers from a third party.\n\nFollowing shipment and setup, and in conjunction with the Company's current rigs in operation or undergoing deployment, MGT's cryptocurrency mining operations will be comprised of over 7,000 Bitmain S9's plus 50 GPU-based Ethereum miners. The Company expects all rigs announced to date to be operating by the end of the first quarter of 2018, at which point the machines are expected to generate nearly 100 Ph/s of total hash power.\n\n\"Notwithstanding the recent weakness in Bitcoin pricing, our operating efficiency and debt-free balance sheet allow MGT to grow and generate substantial free cash flow. This swift selloff will solidify our standing as a world-class leader in crypto mining. Moving forward, we are extremely confident of our further expansion opportunities,\" stated Stephen Schaeffer, President of the Company's Crypto-Capital Strategies business unit.\n\nAbout MGT Capital Investments, Inc.\n\nWith facilities in northern Sweden and WA state, MGT Capital Investments, Inc. (OTCQB: MGTI) ranks as one of the largest U.S. based Bitcoin miners. Further, the Company continues to execute on an expansion model to grow its crypto assets materially. \n\nThe Company also owns a portfolio of cyber security technologies, including the Company's first product, Sentinel, an enterprise class network intrusion detector which was released in October 2017. The Company also owns the intellectual property associated with developing and marketing a mobile pho...