MGT Capital Investments, a New York-based investment theatre whose CEO is John McAfee, announced the companionship volition outset mining Ethereum.
MGT already started mining bitcoin in July 2016 amongst the theatre reporting inwards September 2016 that they are mining about xc bitcoins per month. At the time, the companionship said that the bitcoin they mined inwards a calendar month held a value of $55,000, however, since the toll of the cryptocurrency surged up, xc BTC has a value of close $236,000.
The publicly traded companionship pitched itself to investors by as well as large every bit a cybersecurity company, according to Business Insider. This manufacture is where John McAfee got his mention amongst the antivirus production of McAfee LLC.
McAfee latterly started to plough a major focus on cryptocurrencies. Last month, the cybersecurity guru said that the MGT volition plough profitable amongst bitcoin mining inwards the centre of activities of the firm, as well as bring a destination of becoming the biggest inwards the world.
“We volition definitely live profitable before the terminate of the year,” McAfee said inwards a telephone interview to Bloomberg. “From bitcoin mining, nosotros volition teach the sense as well as expertise to apply the blockchain to our safety products.”Just later McAfee was named the CEO of the company, MGT’s stocks rose past times 63 percentage inwards i day. The cybersecurity skillful is confident of his purpose inwards MGT:
“I don’t know anyone to a greater extent than capable than me,” said McAfee. “I bring never lost inwards terms of describe organisation as well as I for sure don’t recall to outset now.”
Ethereum tin likewise be mined like bitcoin past times computers that solve complex computations. On June 23, MGT announced that the companionship reached an understanding with Bit5ive LLC to buy lx graphics-processor-based mining computers, which volition live used past times the theatre to mine for ether.
“We are to a greater extent than convinced each hateful solar daytime of the increase as well as value of digital currencies, as well as our companionship is uniquely positioned to live a leading provider of processing might to relevant blockchains,” McAfee said inwards a statement.
McAfee is amid the minority who predicts that cryptocurrencies volition rise. In early on June, billionaire Marc Cuban called bitcoin’s recent toll surge a bubble. In addition, Panos Mourdoukoutas, Professor as well as Chair of the Department of Economics at LIU Post inwards New York, likewise foresaw that the “bitcoin bubble volition burst.”
On the contrary, McAfee stated earlier:
No thing how much authorities as well as regulators may scream as well as complain, in that place volition live a the world criterion option currency. Bitcoin appears to live the one… It cannot maybe live a bubble.
Featured icon from Gage Skidmore/Flickr.