The owner fo McAfee Virus protection is getting into the mining business!
MGT Capital Investments, Inc. (MGT) announced its purchase of 60 mining computers from Bit5ive LLC. MGT will expand its mining efforts to include Ethereum and Ethereum Classic
On June 23, 2017, MGT Capital Investments announced an agreement to purchase 60 mining computers from Bit5ive allowing it to join in on the Ethereum mining hubbub.
MGT President Robert Ladd spoke with ETHNews about the investment. He explained that, historically, MGT has focused on bitcoin mining, and that is the company’s first foray into Ethereum. While MGT might be a little late to the Ether party, mining remains a very profitable undertaking, said Ladd. The company optimizes its mining operations based on the fluctuations in virtual currency prices. At present, MGT has 18 PetaHash of mining power overall. The company is also interested in mining additional cryptocurrencies including Zcash, a virtual currency that utilizes zero-knowledge cryptograph
source:
for the full article please refer to: https://www.ethnews.com/led-by-john-mcafee-mgt-capital-invests-in-ethereum-mining-capability
They have been buying antminers for several months and announced that the revenue from bitcoin would make the company profitable. It's not clear how sustainable this is - given that mining ROI diminishes continually as difficulty increases. (as I understand it)
The stock may be a good speculative play on the success of cryptocurrencies over the medium and long term. The price does not track bitcoin closely, so probably not to be used as a short term derivative play on bitcoin price action.
Downvoting a post can decrease pending rewards and make it less visible. Common reasons:
Submit
Great advice!
Downvoting a post can decrease pending rewards and make it less visible. Common reasons:
Submit
I got first involved with MGT because of McaFee. Looking forward to what this brings along for the evolution of the company.
Downvoting a post can decrease pending rewards and make it less visible. Common reasons:
Submit
Hi! I am a robot. I just upvoted you! I found similar content that readers might be interested in:
https://www.ethnews.com/led-by-john-mcafee-mgt-capital-invests-in-ethereum-mining-capability
Downvoting a post can decrease pending rewards and make it less visible. Common reasons:
Submit