MGTI is the largest miner of bitcoin in the U.S. but only a portion of their total rig count is up and running. MGTI will have 4700 mining rigs Q1 2018 with approximately 3500 up and running early January.
Chart indicators: 1) Massive Cup+Handle Formation 2) Triple Bottom 3) Falling wedge / Handle 4) Q3 earnings come out Nov 9 (likely after hours). The earnings will show gains made by the company as they expanded their bitcoin mining operations in Q3 and Q4.
Q3 should give us a "taste" of what to expect in Q4 followed by Q1 2018 which will probably be the mother lode as they'll have all 4700 rigs cranking out coin by then.
They also have the plays on Sentinel and the privacy phone but I don't really care about those. I'm all about the mining.
Look for $5-6 by January and $12-15 summer 2018.
Buy now for less then $2!
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Q3 earnings proved the bitcoin mining revenue is real! 515K that this quarter!
MGT CEO, Robert Ladd hosted a Ask Me Anything session on the company's Facebook page. Lots of good vibes and warm and fuzzies. MGT no longer needs debt or share dilution to survive. They're raking in the dough with the mining operation
MGT is working towards a goal of 25,000 miners in the future. (No time frame) 2018 is going to be incredible for this highly undervalued company.
Expect a good pop in the morning. I see +20-25% tomorrow for MGTI.