MGT Capital, led by John McAfee who coded for NASA in the 70s and created one of the first antivirus, announced today they are to start Ethereum mining to compliment their established bitcoin mining initiative.
“We are more convinced each day of the growth and value of digital currencies, and our Company is uniquely positioned to be a leading provider of processing power to relevant blockchains.” John McAfee, MGT’s Executive Chairman, stated.
They have entered into an agreement to purchase 60 graphics processor-based (GPU) mining computers to mine ethereum in Washington, USA, with the company stating that “the utility of smart contract technology has gained the interest of many on and off Wall Street in recent months.”
McAfee has long been a figure in the internet world, with MGT’s website describing him as a “cybersecurity and software pioneer.” Not least because he was there at the start of the internet boom in the 90s.
He entered the digital currency space last year, giving a somber speech at a blockchain conference in London where he highlighted the risks of crypto-theft because digital currencies turn information itself into money, he said.
That was followed by him stating that bitcoin or a digital currency like it will become the standard of the world. But his main focus was on security, warning that “there will come one day when everybody’s wallet is emptied.”
His venture, therefore, appears to try and provide higher security for smart-phones, but it seems mining is the main focus, with that area now expanding beyond bitcoin to include ethereum.
McAfee is not known to have contributed any code to the bitcoin or ethereum open-source project, but the 72 year old has the long perspective of time, not least because he was in the thick of the digital era from the beginning.
His perspective, therefore, can be interesting, even when you don’t agree with it, so it will be interesting to see what contribution he may provide to this space beyond mining.