MGT Capital increases capacity

The John McAfee led technology and bitcoin mining company presents an update for cryptocurrency operations
17 October 2017   1319

MGT Capital Investments aspires to confirm its claim of being the largest Bitcoin miner in the U.S. by increasing the number of mining machines to 4,700 units and getting 50 graphics processor-based mining computers to mine Ethereum and Ethereum Classic. The company uses Bitman Technologies S9 Antimer rigs which generate potential hash power of 60 Ph/s.

Maintaining Bitcoin mining operations MGTI expects to gain $2.0 million monthly, although considering spendings for electricity, profit sharing and management fees the ultimate amount is expected to be $1.1 million per month. Thus, the annual amount is to be $25 million and earnings before interest, taxes, depreciation and amortization of $13 million which are far more than current corporate capital requirements.

We have been running at breakneck speed to achieve a substantial expansion of our Bitcoin mining footprint, and it’s time for a comprehensive summary.
 

Stephen Schaeffer

President of business unit, Crypto-Capital Strategies Company

The company expects to put all the rigs into operating in the first quarter of 2018.

Bittrex to Go For Maintenance After 1/3 Funds Moved

Users suspects hack, but exchange says "funds are safe"
05 December 2019   97

The Bittrex cryptocurrency exchange has announced scheduled maintenance today, December 5, from 22:00 to 23:00 (GMT). On the eve, a third of its assets were transferred to an unknown wallet.

During maintenance, users will not be able to log into the system or use the APIs. Trading will be suspended.

On December the 4th, populat Twitter account posted that "43,564 #BTC (313,074,134 USD) transferred from Bittrex to unknown wallet." Users suspected that the exchange was hacked, but the exchange . 

Closures for scheduled maintenance only heightened suspicion. However, the Bittrex team assures that "that claim is false."