MGT Capital Investments (OTC: MGTI) has engaged B. Riley Securities as its exclusive financial advisor to support strategic growth initiatives, including identifying transformational acquisition targets and sourcing strategic capital. The company plans to prioritize high-growth opportunities in artificial intelligence, data center infrastructure, robotics and adjacent technology industries.
According to MGT, this mandate follows a recent restructuring aimed at eliminating debt and enhancing the Board of Directors. Management views the combination of a cleaner balance sheet, strengthened governance, and B. Riley’s capital markets and advisory experience as positioning MGT to pursue strategic goals and potential value creation for shareholders.
MGT Capital Investments (OTC:MGTI) entered a Secured Convertible Promissory Note Exchange Agreement with Project Nickel, canceling a September 2025 secured convertible note with aggregate principal of $1,220,240. In exchange, MGT issued 3,250,000 Series E Convertible Preferred shares and 750,131,126 restricted common shares, with Series E subject to a 9.9% beneficial ownership blocker.
MGT expanded its Board to three members, appointing David M. Garrity, CFA, as independent director and adding interim CEO/CFO Jonathan M. Pfohl as inside director. Garrity also bought 150,000,000 restricted common shares in a private placement for $50,000, and the company reiterated its focus on leveraging its corporate structure for future strategic transactions.
MGT Capital Investments, Inc. (OTCQB: MGTI) announced a non-binding letter of intent to merge with Bit5ive LLC, aiming to create a significant player in Bitcoin mining infrastructure. The merger involves MGT issuing 70% to 80% of its stock to Bit5ive’s members, with Robert Collazo becoming CEO. MGT is also raising $1.5 million through convertible notes, generating $1,335,000 in net proceeds. However, the completion of the merger is subject to various conditions, including a financial audit of Bit5ive.