MGT, an inactive Bitcoin mining company, reported no revenue for the first half of 2026 and increased its outstanding common shares by 1.65 billion to 6.29 billion by August 6, while holding $232,000 in cash and keeping 35 Antminer S19 Pro units in storage.

The firm’s hosting contract ended in March 2025 and it sold its LaFayette, Georgia mining site on May 13, 2025, leaving it without operating revenue.

The August 6 filing showed the share count rise from 4.64 billion at the end of 2025. MGT sold 800 million shares for $700,000, issued 100 million shares to settle $262,000 of payables, and on June 30 issued 750.1 million common shares and 3.25 million Series E preferred shares in exchange for retiring a $1.22 million secured convertible note. The company recorded a $2.96 million net loss for the period and a working‑capital deficit of $461,000. It reported assets of $232,000 against $693,000 in current liabilities. MGT raised $975,000 through equity offerings in late 2025 and early 2026 and had $25,000 remaining from a $500,000 private placement, leaving $225,000 of near‑term working‑capital capacity. The firm said it could not guarantee that additional capital would be available on acceptable terms, raising substantial doubt about its ability to sustain operations for at least one year.

MGT said it was evaluating growth opportunities and finalizing engagements with outside advisers but had not identified a signed acquisition or a reopened operation; further financing may be required to continue functioning.