MGT Capital Investments, Inc. (OTC: MGTI) is pleased to announce that it has signed a Letter of Intent with Bitmain Technologies Limited to form a joint venture that will focus on opportunities in the Bitcoin space in North America. Bitmain, headquartered in Beijing, is the preeminent worldwide leader in bitcoin hardware manufacturing and sales. In addition, Bitmain maintains one of the largest bitcoin mining pools through its Antpool Brand, as well as one of the largest cloud mining operations, offered by its Hashnest subsidiary.
The proposed joint venture between MGT and Bitmain will lead to the development of a state of the art Bitcoin mining pool. There will be many exciting features to the McAfee pool that will include advanced user interface as well as superior network protection and security maintained by MGT's proprietary cybersecurity technologies. In addition, the companies plan to form a partnership to offer both institutional and individuals access to affordably priced mining hash from U.S. based facilities maintained by MGT. The Company anticipates that it will make announcements in the near future regarding the brand identity and economics of the cloud hashing ventures.
"Our partnership with an iconic name such as Bitmain Technologies is a major milestone for MGT as it executes it plan to become the major player in bitcoin throughout the western hemisphere," John McAfee, Executive Chairman of MGT, commented. "This Partnership will go a long way towards making MGT a leader in the fastest growing segment of financial and industrial cybersecurity."
About MGT Capital Investments, Inc.
MGT Capital Investments, Inc. (OTC: MGTI) is in the process of acquiring a diverse portfolio of cyber security technologies. With cyber security industry pioneer John McAfee at its helm, MGT Capital is positioned to address various cyber threats through advanced protection technologies for mobile and personal tech devices, including tablets and smartphones.
MGT Capital intends to change its corporate name to "John McAfee Global Technologies, Inc."
For more information on the Company, please visit http://ir.stockpr.com/mgtci.
About Bitmain Technologies, Ltd.
Founded in 2013, Bitmain Technologies, described as the world's most valuable bitcoin company, was established to develop and sell the world's leading bitcoin miners using Bitmain's ASIC chip technology. Starting with the Antminer S1, our task continuously became more difficult as bitcoin's "difficulty level" kept rising. We followed Moore's Law in this emerging field of ASIC chip design and pioneered it, time and again. In May of 2016 we released the Antminer S9, the world's first consumer-grade bitcoin miner based on a 16nm process ASIC chip. This is also the world's most power-efficient bitcoin miner, taking that title away from its predecessor, the Antminer S7.
