“Bitcoin stayed the most profitable crypto to be mined.”
Steve Schaeffer is MGT’s President on Crypto-Capital Strategies. MGT is one of the top Bitcoin producers in North America with the largest individual Bitcoin mining operation. We may have heard about Bitcoin a lot these days, but what we hardly hear about is Bitcoin mining – how does it work and how is it done?
On this episode, Steve explains MGTI’s mining operations and returns. He also explains why the company chose to mine Bitcoins over other cryptocurrencies. He shares MGT’s strategies in choosing locations, securing bitcoins, and gaining profit. Listen in and learn other ways to invest on cryptocurrencies.
Listen to ILAB 80 on iTunes here or subscribe on your favorite podcast app.
ILAB 80 Show Notes
Ticker (OTC: MGTI)
ILAB 78 – Bitcoin 101, How to Invest In Cryptocurrency
Where we are:
Sam – United States
Johnny – United States
ArtofFX – start with just a $10,000 account (reduced from $25,000)
Fundrise – start with only $1,000 into their REIT funds (non-accredited investors OK)
PeerStreet – get a 1% yield bump on your first loan
Wealthfront – get your first $15,000 managed free
Start Here – Recommended Reading
03:23 – What is Bitcoin Mining?
12:39 – The Geographic volume of traders
14:22 – Correlation between MGTI stock price and Bitcoin
16:29 – MGTI’s Operation and Returns
19:16 – Mining location
20:41 – What coins are they mining?
23:04 – How many coins do they mine per day?
26:58 – How do they store the Bitcoins?
29:19 – Exchanges through a Broker
31:08 – Major Banks’ play in cryptocurrencies
34:58 – MGTI’s tech infrastructures
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