MGT Capital collaborates with Bit5ive to produce 1-MW cryptocurrency mining pod

MGT Capital Investments announced today it entered into a collaborative venture with Bit5ive to design and manufacture a crypto mining pod capable of operating 1MW of mining hardware. The pod will be branded and sold by Bit5ive as POD5, with MGT retaining naming rights for its corporate-owned pods.

In return for royalty payments from Bit5ive, MGT is providing its engineering and design expertise as well as capital to develop the final production model. Orders are expected to begin in mid-September 2018.

The POD5 will be a fully-assembled containerized turnkey solution with all mounting racks, cabling, power distribution hardware, wiring, and networking included. In addition, the POD5 will offer a proprietary cooling method allowing for maximum density within the container.

[perfectpullquote align=”full” bordertop=”false” cite=”Stephen Schaeffer, Chief Operating Officer of MGT” link=”” color=”” class=”” size=””]”We believe that the 1-megawatt layout allows for both portability and flexibility to accommodate varying deployments in different locations. We fully intend to utilize the design in the future expansion of our Bitcoin mining operations.”[/perfectpullquote]

[perfectpullquote align=”full” bordertop=”false” cite=”Robert Collazo, Founder and Chief Executive Officer of Bit5ive ” link=”” color=”” class=”” size=””]”The 1-megawatt pod idea was borne from interest of our customer base that was looking for a solution offering greater density within the container form factor. With the collaborative efforts of our team and MGT, we have designed an excellent configuration for a turnkey container requiring minimal setup effort to allow for quick mining startup.”[/perfectpullquote]