MGT Capital (MGTI), Bitmain Technologies Enter LOI to Form Bitcoin Joint Venture
- Wall Street again marks new highs in post-election run
- Broadcom Ltd. (AVGO) Tops Q4 EPS by 11c
- Restoration Hardware (RH) Tops Q3 EPS by 4c; Guides Well Below the Street
- Unusual 11 Mid-Day Movers 12/8: (COOL) (TLRD) (DRAM) Higher; (SHIP) (OHRP) (MLSS) Lower
- After-Hours Stock Movers 12/08: (FNSR) (AVGO) (GLPG) Higher; (XTLY) (RH) (DLTH) Lower (more...)
News and research before you hear about it on CNBC and others. Claim your 2-week free trial to StreetInsider Premium here.
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."
Serious News for Serious Traders! Try StreetInsider.com Premium Free!
You May Also Be Interested In
- Valeant Pharma (VRX) Announces Positive Results from IDP-118 Phase 3 as Psoriasis Treatment
- GE Transportation (GE) Acquires Iders Incorporated
- Catyalyst Pharma (CPRX) Updates on Amifampridine Phosphate Trial in CMS Patients
Create E-mail Alert Related CategoriesCorporate News, Hot Corp. News, Management Comments, Momentum Movers
Sign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!