MGT Capital Investments, Inc. Announces Board Changes
May 06, 2016 at 06:07 pm
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On May 6, 2016, Joshua Silverman provided MGT Capital Investments Inc. with his notice of resignation pursuant to which Mr. Silverman resigned as a director from the board of directors of the Company, effective immediately. Mr. Silverman indicated that his resignation was not a result of any disagreements with the Company on any matter relating to the Company’s operations, policies or practices. Mr. Silverman was a member of Audit Committee and Nomination and Compensation Committee of the Board at the time of his resignation.
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. 
