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MGT Capital (John McAfee’s Company) Launches Pilot Program to Mine Ethereum


MGT Capital Investments, Inc. (OTC: MGTI) announced today an agreement with Bit5ive LLC to purchase up to 60 graphics processor-based mining computers. These machines will utilize the highest quality GPU cards and Intel CPU's with a design to divide the hash rate between Ethereum (ETH) and Ethereum Classic (ETC).






The utility of smart contract technology has gained the interest of many on and off Wall Street in recent months. For example, Grayscale investments, led by Barry Silbert, announced plans to launch the "Classic Ether Trust," with Bloomberg adding Grayscale's Ethereum Classic ticker symbol and investment thesis to its research base. We also believe the formation of the Enterprise Ethereum Alliance -- comprised of many of the world's leading technology companies -- will lead to new and exciting applications and verticals utilizing the Ethereum blockchain, all requiring more robust mining power in order to execute transactions.

John McAfee, MGT's Executive Chairman, stated, "We are more convinced each day of the growth and value of digital currencies, and our Company is uniquely positioned to be a leading provider of processing power to relevant blockchains. The addition of Ethereum and Ethereum Classic to our crypto mining strategies is expected to be very profitable for us."

About MGT Capital Investments, Inc.

MGT Capital Investments, Inc. (OTC: MGTI) is in the process of acquiring and developing a diverse portfolio of cyber security technologies. With industry pioneer John McAfee at its helm, MGT is positioned to address various cyber threats through advanced protection technologies for mobile and personal tech devices, as well as corporate networks. The Company's first product, Sentinel, an enterprise class network intrusion detector, is scheduled to be released by the end of June 2017. The Company also has entered into a joint venture with Nordic IT to develop and market a mobile phone with extensive privacy and anti-hacking features. The Privacy Phone has a tentative release date of February 2018.

Also as part of its corporate efforts in secure technologies, MGT is growing its capacity in mining Bitcoin and other cryptocurrencies. With 18.0 PH/s of computing power at the Company's facilities in WA state, MGT ranks as one of the largest U.S. based Bitcoin miners. Further, the Company continues in active discussions with financial partners to grow Bitcoin output materially.

Lastly, MGT stockholders have voted to change the corporate name of MGT to "John McAfee Global Technologies, Inc." Following a dispute over ownership and permitted usage of the name McAfee, The Company and Intel have agreed to a mediation process to avoid unnecessary legal costs.

For more information on the Company, please visit: ir.stockpr.com/mgtci

SOURCE MGT Capital Investments, Inc.
mgtci.com

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Thursday, June 29th 2017
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