With $0 in revenue and 35 idle machines in storage, an inactive Bitcoin miner printed 1.65 billion shares to stay alive
MGT increased outstanding common shares to 6.29 billion by Aug. 6, up about 1.65 billion, while remaining without operating revenue. In the first half of 2026, it reported no mining or hosting revenue, only $232,000 in cash, and warned it may need more capital to restart operations. The share growth came from equity sales and debt-related issuances: 800 million shares sold for $700,000, 100 million shares issued to settle payables, and 750.1 million shares plus preferred stock issued to retire a $1.22 million convertible note. That debt exchange created a $2.81 million non-cash loss, driving most of a $2.96 million net loss. MGT ended the period with a $461,000 working-capital deficit and substantial doubt about its ability to continue as a going concern.
