DURHAM – Escalating tariffs triggered by the current U.S.-China trade war might be hurting some companies, but not MGT Capital Investments.
The Durham-based bitcoin company recently announced that it had ordered 1,110 S17 Antminers – the latest “energy efficient” miners from Bitmain, China’s second largest fabless chipmaker.
However, the firm has found a way to bypass the current tension, getting its order shipped from Malaysia “without Chinese tariffs” in October, it said in its release.
Clearly, this is a boon for MGT’s investors who are banking on the company’s quick expansion into the digital currency market. It also comes at a time when bitcoin prices is on the rise, more than tripling since December.
MGT is one of the largest U.S.-based bitcoin miners. Its growth model focuses on securing low cost power and growing its crypto assets materially.