MGT Capital Investments, Inc. Reports Unaudited Consolidated Earnings Results for the Third Quarter and Nine Months Ended September 30, 2019
November 14, 2019 at 09:47 pm
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MGT Capital Investments, Inc. reported unaudited consolidated earnings results for the third quarter and nine months ended September 30, 2019. For the quarter, Revenue was $92,000 against $589,000 reported a year ago. Operating loss was $1,881,000 against $7,434,000 reported a year ago. Net loss was $2,254,000 against $7,773,000 reported a year ago. Basic and diluted loss per share was $0.01 against $0.11 reported a year ago.
For the nine months, Revenue was $190,000 against $1,954,000 reported a year ago. Operating loss was $5,877,000 against $18,058,000 reported a year ago. Net loss was $7,584,000 against $18,827,000 reported a year ago. Basic and diluted loss per share was $0.04 against $0.32 reported a year ago.
MGT Capital Investments, Inc. is engaged in cryptocurrency activities with operations at an owned and managed Bitcoin mining facility in LaFayette, Georgia. The Companyâs business activities are comprised of self-mining operations, providing hosting services, and leasing space to third parties. The Company owned approximately 35 Antminer S19 Pro miners providing about 3 Ph/s in hash power for self-mining. It also offers third-party owners of miners a hosting service whereby the Company operates and maintains the miners for a fixed monthly fee. Its miners and those hosted for others are housed in a modified shipping container on the Companyâs owned property in Georgia. The Company owns the entire facility, including land and improvements, five 2500 kilovolt-amp (KVA) three-phase transformers, and three mining containers. The Company is exploring the 10 MW expansion potential at its property as well as investigating other sites to develop Bitcoin mining facilities.
MGT CAPITAL INVESTMENTS, INC. 
