The company MGTI is well known for being owned by the staunch libertarian software entrepreneur John McAfee. John McAfee, CEO and Executive Chairman of MGTI. According to the SEC documents the firm is mining 100 bitcoins per month alongside developing a mining pool called “Macpool.”Īlso read: Bitcoin Proponents Are Laser Focused on One Particular Mining Pool MGTI Claims to be One of the Largest Mining Operations in the U.S. In a recent Securities and Exchange Commission (SEC) annual report filing, the company claims to be one of the largest mining operations in the U.S. The post McAfee’s MGT Capital Raise $2.4 Million to Expand Mining Operations appeared first on Bitcoin News.MGT Capital Investments (MGTI), the company led by the former anti-virus tycoon John McAfee, has revealed the firm’s bitcoin mining revenue. Images courtesy of Shutterstock and MGT Capitalĭo you want to talk about bitcoin in a comfortable (and censorship-free) environment? Check out the Forums - all the big players in Bitcoin have posted there, and we welcome all opinions. MGT is also continuing the development of its so-called ‘Privacy Phone’ – which currently has an expected release date of February 2018.ĭo you think that industrial mining operations will continue to proliferate within the United States? Share your thoughts in the comments section below!
MGT recently announced that it had passed the milestone of having mined 1,000 bitcoins since the company started mining operations in September of last year. In an interview with Bloomberg, then MGT Capital CEO, John McAfee, stated the company’s expectations to “be profitable before the end of the year”. We will further explore potential value-adding opportunities in the digital currency space, as they present themselves.” “Today we see bitcoin and related mining activities as a promising and fast-growing segment of the digital currency sector. Stephen Schaeffer, president of MGT Capital’s cryptocurrency division, has described the expansion as “further evidence of commitment to being the leading miner in North America.” Schaeffer also stated that the company is “currently constructing our third location in Washington State, and plan to deploy new mining rigs in this facility in early October 2017.” “We See Bitcoin and Related-Mining Activities as a Promising and Fast-Growing Segment of the Digital Currency Sector” – John Fife, CEO of UAHC VenturesĬEO of UAHC Ventures, John Fife, has described mining as one of the most dynamic sectors of the cryptocurrency economy.
In a press release to share holders, MGT Capital has stated that “the note is self-amortising with a maximum repayment of $160,000 (£124,880) per month.” MGT has also issued UAHC Ventures with a warrant to purchase shares of MGT’s common stock. The funds have been raised through issuing a 10 percent convertible note to UAHC Ventures LLC – a subsidiary of United American Healthcare Corp. The funds will be used to bolster the company’s mining operations in the Northwest of US – where abundant hydropower is attracting cryptocurrency miners. MGT Capital has raised $2.4 million USD to expand the company’s cryptocurrency mining operations.
The capital has been raised through the issuance of a 10 percent convertible note to UAHC Ventures LLC.Īlso Read: McAfee’s MGTI ‘Macpool’ Mines 100 BTC per Month The Funds Have Been Raised Through Issuing a 10 Percent Convertible Note to UAHC Ventures LLC MGT Capital has announced it has raised $2.4 million USD to expand its mining operations.
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