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The financing consists of a $1.35 million 10% convertible note (convertible at $1.05 per MGTI share) issued to a single institutional investor. In conjunction with the note, the Company also issued the investor 1.2 million warrants with an exercise price of $1.05 per MGTI share. The proceeds of the financing, along with Company cash reserves will allow MGT to purchase 1,000 Bitmain Antminer S9 computers and associated power supplies.
A philosophical debate in bitcoin that at first caused a two-year-long stalemate has now brought the cryptocurrency to the precipice. Will the two sides work it out or is digital gold about to go poof?
Billionaire hedge fund managers such as Steve Cohen and Stan Druckenmiller can generate millions or even billions of dollars every year by pinning down high-potential small-cap stocks and pouring cash into these candidates. Small-cap stocks are overlooked by most investors, brokerage houses, and financial services hubs, while the unlimited research abilities of the big players […]