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/biz/ - Business & Finance

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3276725 No.3276725 [Reply] [Original]

Based Madman John McAfee is mining bitcoins at over 800,000 EBITDA per month. Nearly 10,million dollars cash per year and is going to mine what is profitable and not get in love with only 1 currency. He has a partnership with Bitmain and is buying rigs off them and turning around his company back into profitability.

You Crypto biztard's are chasing 20-30% returns on some shitcoin of the week with huge risk. Smart biz/raelies know that it's about equity and trading at multiples of earnings where the real money is. For example, why would you own gold when you could buy a mining company? The same logic applies.

Go buy MGTI and put it in your IRA, this could be a 100 dollar stock.
>DURHAM, N.C., Aug. 25, 2017 /PRNewswire/ -- MGT Capital Investments, Inc. (OTC: MGTI) announced today that it has entered a purchase order with Bitmain Technologies for in excess of 1,000 S9 Antminer Mining rigs, with shipment expected in mid fourth quarter 2017.

>Following shipment and setup, MGT's Bitcoin mining operations are expected to generate $1.1 million in monthly revenue, assuming current pricing and difficulty rates. Factoring in electricity, hosting and other direct operating costs, EBITDA from the Company's Bitcoin mining operations is projected at $800,000 per month, prior to amortization of notes payable.


http://www.prnewswire.com/news-releases/mgt-capital-announces-further-purchases-of-bitcoin-mining-rigs-300509659.html

>> No.3276728
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3276728

Pic of recent movement in MGTI

>> No.3277208

I'd buy some if Scottrade didn't rape me on OTC fees.

>> No.3277512

>>3276725
>MGTI

Does anybody here work in finance? I guess I'll do it.

So your shit $800,000k a month gets knocked down to $480,000k after tax. Still not including amortization.

It has 40 million shares.

480,000 * 12 = 5.7 mil per year

EPS impact before amortization is 0.144 cents per year

0.036 per quarter.

Last earnings we had -0.12 EPS

MGTI is still losing fucking -0.084 per share on a BEST CASE scenario.

Add amortization expense at it is probably closer to only 0.030-0.033 cents in EPS per quarter.

>> No.3277563

>>3276725
> He has a partnership with Bitmain
wow you need to partner with 1 company to use a "decentralized currency"
That's why I bought vertcoin, it's essentially the same as bitcoin/litecoin except for decentralized mining with GPU only

>> No.3277582

>>3276725
>assuming current pricing and difficulty rates

and this kills the miner who makes this assumption

>> No.3277594

I think this guys a fraud and doesn't even own any cryptos kind of like a Alex Jones of cryoto

>> No.3277612

>>3277512

McAfee already had 5 petahash of hashing power prior to this acquisition and they received a $2,000,000 loan to buy the rigs. They probably negotiated a bulk deal to buy 1500-2000 mining rigs (another 15-23 petahash).

Dude figured out a lucrative business opportunity and is seizing it. Beyond that, they've previously announced the purchase of Ethereum Mining equipment in May.

Odds are EPS is more favorable but - frankly - EPS doesn't concern me much (I work for a large company that deliberately runs at a loss due to significant R&D investments)... if EPS is negative because MGTI is growing and investing the money, great.

>> No.3277615

>>3277563
Is this true? Do they not allow pool mining or something?

>> No.3277664

>>3277615
They allow pool mining but it's a coin that deliberately hard-forks to avoid ASCIS. The last time there was an ASIC being developed for the VTC algo they just forked the network. Basically, what Litecoin said it would do but didn't.

>> No.3278215
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3278215

>>3277512

So what?

You think there's actual numbers backing up the nebulous and totally detached price of AMAZON or Tesla?

Fuck no.

MGTI will continue to increase because it's one of the few ways for regular people to get exposure to Bitcoin through their IRA, it's a qualified investment.

>> No.3278797

>>3277594
Yeah he only created one of the most widely used antivirus programs of all time. Totally a fraud, heh.

Just because a company is overvalued, doesn't mean the founder is a fraudster.

I could get more hashpower and cheaper electricity for a lower price operating my own rigs, so there is no reason to invest in his company outside of a speculation vehicle/short term hedge.

>> No.3278961

Didnt it get delisted for being sketchy