The cybersecurity and Bitcoin mining firm McAffee’s MGT Capital has announced it has raised $2.4 million, Bitcoin.com reported.
The funds were secured by issuing a 10% convertible note to UAHC Ventures LLC (a subsidiary of United American Healthcare Corp.) and they will be used to expand the company’s Bitcoin (Bitcoin) mining operations.
“The note is self-amortising with a maximum repayment of $160,000 (£124,880) per month,” explained MGT Capital in a press release to share holders.
“We See Bitcoin and Related-Mining Activities as a Promising and Fast-Growing Segment of the Digital Currency Sector,” John Fife, CEO of UAHC Ventures said.
MGT Capital is owned by John McAfee, who started the eponymous anti-virus company back in 1980s. later his software firm was acquired by Intel for $7.6 bln.
MGT Capital has announced not long ago that it had passed the milestone of mined 1,000 mined bitcoins since the launch of their mining operations in September 2016.