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MGT Capital Investments, which is seeking to diversify its portfolio of cyber technologies, has secured a location in central Washington to launch a bitcoin mining operation. The company has secured a location with low-cost hydro power to establish a facility to generate more than two PetaHash in processing power.
The facility will be completely operational by Aug. 1, the company noted in a press release, and can expand to nearly 10 PetaHash. MGT Capital believes it can become a domestic leader in cryptocurrency mining.
MGT Capital is led by John McAfee, who is considered a cyber security pioneer and is a one-time Libertarian Party presidential contender. The investment company recently named two of the most recognized names in the bitcoin world, Erik Voorhees, who will serve as an advisor, and Roger Ver, who will serve as advisory board chairman, CCN previously reported.
An Opportune Time For Bitcoin