MGT Dumps 1.65 Billion Shares Amid Revenue Crisis

MGT, an inactive Bitcoin miner with no operating business, has printed 1.65 billion shares to stay alive. The company reported $0 in revenue for the first half of 2026 and held just $232,000 in cash. MGT warned it needs more capital to restart operations.

The company's quarterly filing shows that its outstanding common shares climbed to 6.29 billion by Aug. 6 from 4.64 billion at the end of 2025. This is an increase of about 1.65 billion shares, or 35.6%. MGT generated no mining or hosting revenue during the latest six-month period.

The share increase was split among transactions with different purposes. MGT sold 800 million common shares for $700,000 in cash and issued another 100 million shares to settle $262,000 of payables.