We will further explore potential value-adding opportunities in the digital currency space, as they present themselves.” “Today we see bitcoin and related mining activities as a promising and fast-growing segment of the digital currency sector. Stephen Schaeffer, president of MGT Capital’s cryptocurrency division, has described the expansion as “further evidence of commitment to being the leading miner in North America.” Schaeffer also stated that the company is “currently constructing our third location in Washington State, and plan to deploy new mining rigs in this facility in early October 2017.” “We See Bitcoin and Related-Mining Activities as a Promising and Fast-Growing Segment of the Digital Currency Sector” – John Fife, CEO of UAHC VenturesĬEO of UAHC Ventures, John Fife, has described mining as one of the most dynamic sectors of the cryptocurrency economy. In a press release to share holders, MGT Capital has stated that “the note is self-amortising with a maximum repayment of $160,000 (£124,880) per month.” MGT has also issued UAHC Ventures with a warrant to purchase shares of MGT’s common stock. The funds have been raised through issuing a 10 percent convertible note to UAHC Ventures LLC – a subsidiary of United American Healthcare Corp. The funds will be used to bolster the company’s mining operations in the Northwest of US – where abundant hydropower is attracting cryptocurrency miners. MGT Capital has raised $2.4 million USD to expand the company’s cryptocurrency mining operations. The capital has been raised through the issuance of a 10 percent convertible note to UAHC Ventures LLC.Īlso Read: McAfee’s MGTI ‘Macpool’ Mines 100 BTC per Month The Funds Have Been Raised Through Issuing a 10 Percent Convertible Note to UAHC Ventures LLC MGT Capital has announced it has raised $2.4 million USD to expand its mining operations.
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