Combined Entity Would Become Significant Player in Bitcoin Mining Infrastructure
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MGT Issues $1.5 million in Convertible Notes
MIAMI and RALEIGH, N.C., Sept. 14, 2022 /PRNewswire/ -- MGT Capital Investments, Inc. ( OTCQB: MGTI) today announced the execution of a non-binding letter of intent to merge with Bit5ive LLC in a stock swap MGT believes will benefit stockholders of both companies. Subject to the execution of a definitive agreement and certain closing conditions -- including the completion of Bit5ive's financial audit and approval by Bit5ive's members – the transaction will create a strong competitor in the design and operation of infrastructure used in the Bitcoin mining industry.
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