Mgt Capital Investments, Inc. Reports Earnings Results for the Second Quarter Ended June 30, 2020
January 12, 2021 at 08:46 am EST
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MGT Capital Investments, Inc. announced earnings results for the second quarter ended June 30, 2020. For the second quarter, the company announced sales was USD 460,000 compared to USD 70,000 a year ago. Operating loss was USD 695,000 compared to USD 2.022 million a year ago. Net loss was USD 1.416 million compared to USD 3.619 million a year ago. Basic eps - continuing operations was USD 0 compared to basic loss per share from continuing operations of USD 0.02 a year ago. For the half year, sales was USD 1.137 million compared to USD 98,000 a year ago. Operating loss was USD 1.653 million compared to USD 3.994 million a year ago. Net loss was USD 2.740 million compared to USD 5.328 million a year ago. Basic loss per share from continuing operations was USD 0.01 compared to USD 0.04 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. 
