MGT Capital posted a GAAP net loss of $2.96 million for the six months ended June 30, 2026, with cash used in operations of $531,000.
Revenue was flat at no revenue for the quarter, with cost of revenue dropping to $0 from $11,000 a year earlier.
General and administrative expense fell 15% to $149,000, reflecting lower audit, legal and consulting costs, partly offset by higher insurance and payroll fees.
Liquidity remained tight, with cash and cash equivalents of $232,000 and a working capital deficit of $461,000, prompting a going-concern warning.
The company issued 3,250,000 shares of Series E Convertible Preferred Stock and 750,131,126 common shares to exchange $1.22 million of secured convertible notes.
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