By Scott Tzu
The bitcoin angle on MGT (NYSEMKT:MGT) is certainly an interesting one. We wanted to write about why this angle has us curiously watching a company that we don’t believe is anywhere near investable at its current state. But we’re watching.
MGT is a company that we have been watching over the last few months. We have tried to maintain a neutral stance on the company and provide balanced looks as to some of the ongoing saga surrounding the company. Most recently, we tried to help investors understand what the company’s new SEC subpoena could mean and what NYSE could have been thinking when they prevented the company from issuing the shares necessary for MGT to make a planned acquisition.
Today, we wanted to write about why we are keeping one eye on MGT’s bitcoin mining operations. While we are not advocating for a position in the company, especially now that it has regulatory scrutiny on it, the mining of bitcoin is the first business related concept to come out of the company that has intrigued us in the slightest bit.
Yesterday, the company released a press