John McAfee announced today that his bitcoin mining company, MGT Capital Investments Inc., placed a massive order for 2000 new mining machines from Bitmain Technologies.
The mining machines ordered are the famous S9 Antminers, and Bitmain expects to ship them by the end of 2017.
According to the press release, funds for the new order have been provided by institutional investors. MGT Capital will manage the mining business for a fee and a share of the profits.
Stephen Schaeffer, President of MGT Crypto-Capital Strategies, stated:
"We believe having a mix of fully-owned and investor-owned mining rigs will allow us to appreciably expand our cryptocurrency footprint with less equity dilution. We plan to shortly update the investment community and shareholders with further details."
MGT Capital Investments, Inc. (traded as OTCQB: MGTI) which is one of the largest U.S. based Bitcoin miners, also develops a portfolio of cybersecurity technologies such as Sentinel, an enterprise-class network intrusion detector.