MGT Capital Investments, a New York-based investment company whose CEO is John McAfee, has announced that the company will start mining Ethereum. MGT has already started mining bitcoin in July 2016 with the company reporting in September 2016 that they are mining approximately 90 bitcoins per month.
At the time, the company said that the bitcoin they mined in a month had the value of $ 55,000, however, since the price of the cryptomeo has increased, BTC 90 now has a value of about $ 236,000. According to Business Insider, the publicly traded company was launched to investors primarily as a cyber security company.
This industry is where John McAfee got his name with McAfee's antivirus product LLC. McAfee recently began focusing on cryptography. Last month, the cyber security guru said that MGT will become profitable with bitcoin mining at the heart of the company's activities and will aim to become the largest in the world.
Like Bitcoin, Ethereum can now also be extracted by computers that solve complex calculations. On June 23, MGT announced that the company has reached an agreement with Bit5ive LLC to purchase 60 graphics-based mining computers that will be used by the company to extract the ether.
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John McAfee is the new Chuck Norris.