MGT Capital Investments, Inc. provided an operating update to investors. As of January 31, 2020, the company is operating 1,500 new generation Bitcoin miners collectively rated at approximately 80 Ph/s at its facility in LaFayette, Georgia. All miners were purchased from Bitmain and possess enough computational power to mine 38 Bitcoin per month at the current Difficulty Rate. The total electrical load at this production level is estimated at slightly under 4.0 MW. MGT's miners are housed in five modified shipping containers, including two manufactured by Bit5ive LLC of Miami. As an early investor and design consultant, the Company receives a modest royalty participation in all sales of Pod5ive containers. To date, the company has been very satisfied with the ease of deployment and operating effectiveness of these units. Phase I of the LaFayette site is structurally complete and awaiting final grading and landscaping. The entire facility, including the land, five 2500 KVA 3-phase transformers, the mining containers and the miners, are owned by MGT. As the company is presently using only one-third of the available electrical load, the Company is exploring ways to grow its current operations. Also of note, MGT has successfully terminated all third-party hosting agreement and has sold all but approximately 1,000 of its S9 Antminers. The Difficulty Rate (DR) of the Bitcoin network is a direct function of the capacity of the entire mining network. The DR changes roughly every two weeks and is widely available on Bitcoin data feeds and websites. Over time, the DR has, and is expected to, increase due to increased investment by network participants in more powerful and efficient mining hardware. Furthermore, at any Difficulty Rate, the Company's Bitcoin output is also impacted by power and network stability, weather, and other factors outside its control.