MGT Capital Names Stephen Schaeffer as Chief Operating Officer
July 17, 2018 at 03:00 pm EDT
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MGT Capital Investments, Inc. announced the appointment of Stephen Schaeffer as Chief Operating Officer of MGT. Mr. Schaeffer has served as President of the Company's Crypto-Capital Strategies division since August 2017. In this role, Mr. Schaeffer has led the Company's crypto team domestically as well as the expanded operation in Sweden. Mr. Schaeffer has an extensive background in building and operating large scale crypto mining centers since 2012. In his new role as COO, Mr. Schaeffer will continue to head Bitcoin mining operations, providing MGT with higher visibility as he focuses on development of expansion opportunities and new investment partnerships.
MGT Capital Investments, Inc. is engaged in cryptocurrency activities with operations at an owned and managed Bitcoin mining facility in LaFayette, Georgia. The Companyâs business activities are comprised of self-mining operations, providing hosting services, and leasing space to third parties. The Company owned approximately 35 Antminer S19 Pro miners providing about 3 Ph/s in hash power for self-mining. It also offers third-party owners of miners a hosting service whereby the Company operates and maintains the miners for a fixed monthly fee. Its miners and those hosted for others are housed in a modified shipping container on the Companyâs owned property in Georgia. The Company owns the entire facility, including land and improvements, five 2500 kilovolt-amp (KVA) three-phase transformers, and three mining containers. The Company is exploring the 10 MW expansion potential at its property as well as investigating other sites to develop Bitcoin mining facilities.
MGT CAPITAL INVESTMENTS, INC. 
