What Is MGT Capital Investment Ethereum Mining?
MGT Capital Investments, Inc. just announced a pilot program to mine Ethereum. The pilot program was announced in a press release issued on June 23.
MGT Capital is partnering with Bit5ive LLC to purchase up to 60 GPU-based mining computers. The miners will divide their hash rate between Ethereum (ETH) and Ethereum Classic (ETC). The press release described the machines as “the highest quality GPU cards and Intel CPUs”.
In May 2017, MGT Capital made headlines for announcing a major expansion of its bitcoin mining operation. The company, led by antivirus pioneer John McAfee, is quickly becoming one of the world’s largest mining operations.
Popularity of Ethereum
Obviously, Ethereum has skyrocketed in popularity in 2017, achieving huge gains for investors. It attracted the attention of big name mining operations long ago, but miners continue to jump on board – particularly big Wall Street names.
Last month, Grayscale Investments, led by Barry Silbert, announced plans to launch the “Classic Ether Trust”, for example. Bloomberg also added Grayscale’s Ethereum Classic ticker symbol and investment thesis to its research base.
Investors are also encouraged by developments like the formation of the Enterprise Ethereum Alliance, which consists of some of the world’s leading tech companies and is dedicated to promoting new uses for the Ethereum blockchain.
MGT Capital is led by Executive Chairman John McAfee. In the press release announcing the Ethereum mining operation, the company describes how they’re “in the process of acquiring and developing a diverse portfolio of cyber security technologies.”
As part of their efforts to create secure technologies, MGT is boosting its bitcoin and cryptocurrency mining power.
Today, MGT operates a large mining operation from Washington state. That mining operation makes MGT one of the largest US-based bitcoin miners.
Interestingly, we won’t be calling MGT Capital by that name for much longer. The company’s stockholders recently voted to change the name of MGT Capital to “John McAfee Global Technologies, Inc.” That news came after a dispute over the ownership and permitted usage of the name McAfee (the dispute was between MGT Capital and Intel).
You can learn more about MGT Capital and their mining investments at their official website. And, read the press release announcing the new Ethereum mining operation.