MINING AND BEYOND
MGT has multiple locations with contracted, low-cost hydro-electric power in central Washington state. The operations are lead by Stephen Schaeffer, President of MGT Crypto-Capital Strategies. Our operational team is led by Robert Collazo and the Bit5ive Team. We are currently executing on our stated goal of becoming the preeminent crypto-mining enterprise in the United States. While the Company continues to ramp up its mining operations, its strategic partnership with Bitmain allows MGT to maintain a competitive edge in a rapidly expanding sector.
As part of its corporate investment in secure technologies, MGT continues to grow its capacity for mining Bitcoin. Expanding on existing operations, the Company's facility in Washington state is one of the largest North American Bitcoin miners.
The size and power efficiency of our facilities will allow MGT to emerge as a domestic leader in cryptocurrency mining at an opportune time. With the growth in adoption of Bitcoin as well as the trending rise in the value of Bitcoin, mining is extremely profitable and allows the Company to return value to the shareholders.
This significant commitment to an in-house mining facility also prepares MGT for the increased processing demands of the many new Blockchain technologies on the horizon. As the demand for transaction processing grows, MGT will redirect its mining machines towards supporting other tasks on the Blockchain.
MGT maintains a strong working relationship with the senior management of Bitmain technologies. Bitmain is recognized as the industry leader in manufacturing of Bitcoin mining hardware. This strategic relationship affords MGT accessibility to Bitmain’s newest and most technologically advanced hardware.