30 Jun '16, 1pm

MGT Announces Initial Phase of Multi PetaHash Bitcoin and Blockchain Project

HARRISON, N.Y., June 30, 2016 /PRNewswire/ -- MGT Capital Investments, Inc . (NYSE MKT: MGT) disclosed today the details of the initial phase of a large scale Bitcoin mining operation designed to position the Company as a leader in Blockchain technologies. The Company has secured a location with contracted low cost hydro power in central Washington state to launch a facility generating over two PetaHash in processing power. This facility is expected to be fully operational by August 1, 2016, and has expansion capacity to nearly 10 PetaHash. The size and power efficiency of the facility will allow MGT to emerge as a domestic leader in crypto currency mining at an opportune time. The current pricing environment of bitcoin and other digital assets coupled with the release of new 16 nanometer ASIC chips provides a significant opportunity to generate excellent profit margins. R...

Full article: http://ir.stockpr.com/mgtci/company-news/detail/864/mgt-a...

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