MGT Capital Investments Inc. (OTCMKTS:MGTI) Might Not Dip Again in 2017

MGT Capital Investments Inc. (OTCMKTS:MGTI) Might Not Dip Again in 2017

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MGT Capital Investments Inc. (OTCMKTS:MGTI) is up 11% today and many seem to be buying the slight dip that occurred in mid-November. This dip probably won’t last for long. Overall, MGTI has been having a extraordinary year.  But why?

Overall, MGTI is having a great year because bitcoin took over. Bitcoin now goes for close to $12,000 apiece and, as adoption increases, more and more money is flowing into the space. What looked like a big risk by McAfee at the end of last year has now proven to be an incredibly smart move and – as the price per coin continues to rise – the value of the company’s bitcoin holdings as well as the reward that MGT earns for every block that its mining equipment processes increases. Now, MGTI represents one of the first movers in the bitcoin play for those who are effectively priced out of the actual coin.

MGT Capital Investments Inc. (OTCMKTS:MGTI) is in the process of acquiring a diverse portfolio of cybersecurity technologies and ramping up its Bitcoin mining operations in the state of Washington.

In short, MGTI focuses on acquiring and developing a portfolio of cybersecurity technologies. It intends to address various cyber threats through protection technologies for mobile and personal tech devices, as well as corporate networks.

MGTI also engages in bitcoin mining operation and recently ramped up its Ethereum mining operations as well. MGT Capital Investments, Inc. was founded in 1979 and is headquartered in Durham, North Carolina.

According to MGTI: “With facilities in WA state, MGT Capital Investments, Inc. (MGTI) ranks as one of the largest U.S. based Bitcoin miners. Further, the Company continues to focus on an expansion model to grow its crypto assets materially. The Company is also developing a portfolio of cybersecurity technologies, with industry pioneer John McAfee as its visionary leader, creating advanced protection technologies for mobile and personal tech devices, as well as corporate networks. The Company’s first product, Sentinel, an enterprise class network intrusion detector, is currently in beta testing, with commercial released anticipated by the end of September 2017. The Company also has entered into a joint venture with Nordic IT to develop and market a mobile phone with extensive privacy and anti-hacking features. The Privacy Phone has a tentative release date of February 2018.”

In other news, MGTI has embarked on an expansion drive as it seeks to strengthen its bitcoin mining operations to take advantage of the hype around the cryptocurrency. Following recent shipment and set up of mining rigs, the company remains on track to generate $2 million in monthly revenue assuming continued growth in the price of bitcoin.

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However, the company’s big plan is to expand its mining operations with 4,700 Bitman Technologies S9 Antimer rig. Such a feat could see the company generate annualized revenue of $25 million and EBITDA of $13 million.

“The effort required to reach our current level is not trivial. The ability to scale our operations requires coordinating the procurement of supply-constrained rigs, massive power requirements, substantial monitoring and controls, and the like. This success is far from a plug and play endeavor. We are very proud of the diligence of the entire MGT team,” said Mr. Stephen Schaeffer.

MGT Capital Investments Inc. (OTCMKTS:MGTI) has a market cap of $131.61M with 48.56M shares outstanding. MGTI has prepaid their electricity and is seemingly ready to go for a hard charge during this Bitcoin ride. We will be writing updates as more information and updates are released. Sign-up for continuing coverage on shares of $MGTI stock, as well as other hot stock picks, get our free newsletter today and get our next breakout pick!

Disclosure: We hold no position in $MGTI, either long or short, and we have not been compensated for this article.

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