MGT Capital Investments, Inc. Reports Earnings Results for the Third Quarter and Nine Months Ended September 30, 2023
December 13, 2023 at 11:30 am EST
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MGT Capital Investments, Inc. reported earnings results for the third quarter and nine months ended September 30, 2023. For the third quarter, the company reported sales was USD 0.017 million compared to USD 0.027 million a year ago. Revenue was USD 0.092 million compared to USD 0.146 million a year ago. Net income was USD 0.701 million compared to net loss of USD 16.42 million a year ago.
For the nine months, sales was USD 0.057 million compared to USD 0.152 million a year ago. Revenue was USD 0.297 million compared to USD 0.685 million a year ago. Net loss was USD 0.679 million compared to USD 17.9 million a year ago.
MGT Capital Investments, Inc. is engaged in cryptocurrency activities with operations at an owned and managed Bitcoin mining facility in LaFayette, Georgia. The Companyâs business activities are comprised of self-mining operations, providing hosting services, and leasing space to third parties. The Company owned approximately 35 Antminer S19 Pro miners providing about 3 Ph/s in hash power for self-mining. It also offers third-party owners of miners a hosting service whereby the Company operates and maintains the miners for a fixed monthly fee. Its miners and those hosted for others are housed in a modified shipping container on the Companyâs owned property in Georgia. The Company owns the entire facility, including land and improvements, five 2500 kilovolt-amp (KVA) three-phase transformers, and three mining containers. The Company is exploring the 10 MW expansion potential at its property as well as investigating other sites to develop Bitcoin mining facilities.
MGT CAPITAL INVESTMENTS, INC. 
