MGT Capital Investments, Inc. (OTC: MGTI) has announced the deployment of 650 new Bitmain S9 Bitcoin mining rigs. These units are located at a new multi-MegaWatt facility in central Washington state. The company anticipates completing the installation and reaching full production within the next two weeks.
The incorporation of these new mining rigs continues MGT’s strategy to boost its competitive edge in the Bitcoin mining industry.
Stephen Schaeffer, President of MGT Crypto-Capital Strategies stated:
“With the recent highs of $4,500 per bitcoin, the business of mining is as profitable as ever. I couldn’t be more excited about the timing of my new appointment, and I truly believe we will build MGT into a mining powerhouse in the U.S.”
The company recently passed a milestone of having mined 1,000 bitcoins since it began operations in September 2016. MGT also recently announced back in June a new pilot program to mine Ethereum.
With facilities in WA state, MGT Capital Investments, Inc. (OTC: MGTI) ranks as one of the largest U.S. based Bitcoin miners. MGT stated they are looking to continue 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.