A Closer Look into (MGTI) — A Publicly Traded Bitcoin Mining Company
(MGTI) also known as MGT Capital Investments Inc. is engaged in acquiring and developing a diverse portfolio of cyber security technologies. What strikes me as the most interesting thing about the company is its Bitcoin/Ethereum Mining operation.
MGTI is an interesting way for traditional stock market enthusiasts to gain crypto-currency exposure without leaving their brokerage accounts. If MGTI gets upgraded to the NASDAQ, you can expect big moves.
Unlike purchasing a Bitcoin mining contract, share purchases of MGTI don’t expire and owners get exposure to the same very profitable mining.
MGTI has increased its purchase order with Bitmain Technologies for an additional 500 S9 Antminer Mining rigs, with shipment expected in mid fourth quarter 2017. This is huge.
I previously wrote about the merits of Bitcoin Cash here. In my understanding, MGTI currently mines Bitcoin SegWit. If Bitcoin Cash mining becomes more profitable they can switch to mining it. The owner of MGTI shares doesn’t have to make any trades in order to benefit from this switch. The company also holds some crypto-currencies as disclosed in their financial statements which can increase in value.
John McAfee is the Director at MGTI and in my opinion is a controversial genius. Don’t buy into the crazy rumors and remember that he successfully founded McAfee Antivirus. MGTI is developing a secure mobile phone and has entered into a joint venture partnership with Nordic IT Sourcing Association Venture Partners to do so. MGTI is also developing MGT Sentinel, an intrusion monitoring platform designed to protect corporate and enterprise intranets from sophisticated hacking threats. John McAfee was scheduled to speak on Jim Cramer and had to be rescheduled.
*The above references an opinion and is for information purposes only. It is not intended to be investment advice. Seek a duly licensed professional for investment advice. Your investment could go to zero. This is a long term holding.
Disclosure: I own some MGTI and Bitcoin Cash.