MGTI now mining 100 bitcoins per month, ranking as one of the largest U.S. miners

It was announced today from John McAfee’s MGT Capital Investments Inc (OTC: MGTI) that the company is now mining 100 bitcoins per month (around $125,000 USD at today’s rates), making it one of the largest U.S. based miners.

The company recently announced plans to launch a Bitcoin cloud mining service this quarter called ‘MacPool’ but no official launch date has been set.

MGTI currently has a 5.0 PH/s fully owned Bitcoin mining facility which is hosted in Cashmere, Washington. The facility currently operates at a rate that is expected to generate approximately $100,000 of EBITDA each month and is in the process of doubling capacity with the recent purchase of more machines. Plans to substantially increase operations in 2017 are being contemplated.

MGTI confirmed they are in active discussions with potential financial partners to grow bitcoin output materially. Bitcoin mining by its nature over time requires increasing processing power, which in turn requires continuing investment in computer hardware and increasing power demands. As such, MGTI said in its update it cannot assure that its mining operations will remain profitable or say whether it will continue to invest in these operations.

Mining operating statistics:

Exit mobile version