MGT Capital Investments, an inactive Bitcoin miner, reported $0 revenue in the first half of 2026 with only $232,000 in cash on hand. The company issued 1.65 billion new shares, bringing total outstanding shares to 6.29 billion, of which only 800 million raised $700,000 in cash. The largest block of 750.1 million shares was used to exchange a $1.22 million convertible note, resulting in a $2.81 million non-cash loss. MGT sold its LaFayette, Georgia mining site in May 2025 and has 35 idle Antminer S19 Pro machines in storage with no active operations. With a $461,000 working capital deficit and substantial doubt about its ability to continue as a going concern, the company raised $975,000 through equity offerings but has yet to identify a signed acquisition or revenue-producing business.
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