MGT Capital Investments Inc (NYSEMKT:MGT) is bang in the middle of a swarm of ambulance chasers right now, and it’s press release stream is warped as a result. The average investor logging on to a news feed will see MGT surrounded in lawsuits, litigation deadlines, that sort of thing. Buried below this mountain of bad press, however, is a recent update as to the company’s bitcoin mining operation.
This is the first time we’ve had an update on this sort of thing from the company, and it finally offers some insight into the scale and prospects for this area of McAfee’s business. For many, this is still a murky operation, but we’ve attempted to shin light on the various aspects of McAfee’s MGT over the last few months, and now it’s time to do the same here.
So, most reading will know what bitcoin is by now, and will have some idea of how it’s mined. Simply put, a miner uses his or her computing power to verify transactions on the blockchain (bitcoin’s blockchain) and in return, receive an amount of BTC. The amount returned shrinks