Mgt Capital Investments, Inc. Reports Earnings Results for the First Quarter Ended March 31, 2020
May 14, 2020 at 04:20 pm EDT
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MGT Capital Investments, Inc. announced earnings results for the first quarter ended March 31, 2020. For the first quarter, the company announced sales was USD 677,000 compared to USD 28,000 a year ago. Operating loss was USD 958,000 compared to USD 1.972 million a year ago. Net loss was USD 1.324 million compared to USD 1.709 million a year ago. Basic eps - continuing operations was USD 0 compared to basic loss per share from continuing operations of USD 0.01 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. 
