MGT Capital Investments, Inc. (OTCMKTS: MGTI) today announced that its Bitcoin Mining Pool is scheduled to be fully available to the Bitcoin network early in the second quarter of 2017. Code development has been completed and security testing is underway. Upon launch, MGT aims to offer the world’s most secure mining pool, branded MacPool, using proprietary cybersecurity utilities, and hosted exclusively on U.S. based servers.
Bitcoin mining pools are a mechanism for Bitcoin mining nodes to combine resources, share hashing power and split rewards on a pro-rata basis. With Bitcoin valued at all-time highs, and consumer adoption reaching an inflection point, transaction numbers are expected to grow significantly. The growth in daily commerce using Bitcoin will increase the importance of aggregated mining pools to verify and report transactions to the Blockchain.
John McAfee, Chief Executive Officer and Executive Chairman of MGT stated:
“Our mining pool is a natural outgrowth of our investment in Blockchain technology as a foundation for future cyber security products. Large and respected Bitcoin mining operators will rapidly take over the enormous transaction processing requirements necessary for all companies to secure themselves in the near future. As a publicly-traded company, MGT leverages our unique opportunity to provide investors with a suitable proxy to participate in the profitable bitcoin mining space.”
The pink sheet traded shares loved the news today as MGTI stock spiked close to 20% by the end of the New York trading session.
