MGT Capital Investments, led by John McAfee, has just signed a letter of intent with the mining firm Bitmain Technologies Limited. The collaboration aims to focus on building North American Bitcoin opportunities.
MGT Capital Investments & Bitmain’s Joint Bitcoin Venture
The joint venture between MGT and Bitmain will begin by focusing efforts on a state of the art Bitcoin mining pool. The companies said the “McAfee Pool” will have many benefits that other mining pools do not include. Some of the features will be an advanced user interface, and network protection and security curated by MGT’s cybersecurity framework.
Beijing-based Bitmain will offer mining expertise by leveraging its worldwide leadership within the Bitcoin mining and hardware ecosystem. The firm already maintains one of the largest mining pools Antpool, and professional grade equipment with its Antminer series.
John McAfee, Executive Chairman of MGT, commented during the announcement stating:
“Our partnership with an iconic name such as Bitmain Technologies is a major milestone for MGT as it executes it plan to become the major player in bitcoin throughout the western hemisphere.— This partnership will go a long way towards making MGT a leader in the fastest growing segment of financial and industrial cybersecurity.”
A Forward Thinking Company
MGT Capital Investments has been making headlines within the Wall Street environment and throughout the cryptocurrency industry. The firm is dedicated to acquiring intellectual property assets and technologically beneficial protocols.
The company also recently revealed its “Sentinel” technology. Sentinel is focused on the security of corporations and enterprise organizations from malicious hacking. MGT is currently working on acquiring D-Vasive, a provider of anti-spy software, and Demonsaw, a file sharing software platform.
Additionally, the company has a portfolio which includes social, casino and gaming platforms. Moreover, MGT has a stake in DraftDay.com a leading fantasy sports platform with wagering capabilities. McAfee is also a believer in blockchain technology and the Bitcoin protocol. He first hinted about acquiring a mining operation this past summer.
The former anti-virus tycoon will also be keynoting at Bitcoin.com’s Blockchain: Money Conference, speaking about these emerging technologies.
U.S. Mining Operations Could Expand
The collaboration between MGT and Bitmain could be a powerful combination. The Bitcoin mining realm is changing nearly every day, and there is a significant concentration in China. With Bitmain’s help, MGT could create a major mining facility in America. There are a few operations in the U.S. including Bitfury’s Georgian data facility, among others.
MGT seems like it has its targets set on innovative and emerging technologies configured to disrupt traditional frameworks. With McAfee behind the helm, the staunch libertarian’s values may shine through the business.
A Bitcoin operation could give the firm significant leverage as the world’s payment system is changing for the better. Whatever the case may be, MGT wants to be on the forefront of this revolutionary economy.
What do you think about MGT’s partnership with Bitmain? Let us know in the comments below.
Images courtesy of Shutterstock, MGT, and Bitmain websites.
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