MGT expanded its outstanding common share count to 6.29 billion by Aug. 6 from 4.64 billion at the end of 2025, a rise of about 1.65 billion shares, or 35.6%, even as the inactive Bitcoin miner reported no revenue in the first half of 2026. The company’s Aug. 7 quarterly filing showed it remained without an operating business after its primary hosting contract expired in March 2025, when it also stopped self-mining, and after selling its LaFayette, Georgia mining site on May 13, 2025. Through Aug. 6, MGT sold 800 million common shares for $700,000 in cash, issued 100 million shares to settle $262,000 of payables, and on June 30 issued 750.1 million common shares plus 3.25 million Series E convertible preferred shares to retire a $1.22 million secured convertible note. That debt exchange did not raise cash and drove a $2.81 million non-cash loss on debt extinguishment, accounting for most of MGT’s $2.96 million first-half net loss. MGT used $531,000 of cash in operating activities during the period and ended with $232,000 of total assets against $693,000 of current liabilities, leaving a $461,000 working-capital deficit and a matching stockholders’ deficit. The company said equity offerings spanning December 2025 and the first half of 2026 raised $975,000, while its current $500,000 private placement had brought in another $25,000 after the quarter, leaving $225,000 of remaining capacity for near-term working capital. MGT cautioned that the unused placement capacity is not cash on hand and said it cannot assure investors that additional funding will be available when needed or on acceptable terms, conditions that raised substantial doubt about its ability to sustain operations for at least one year from the issuance of the financial statements. A July 20 update said MGT was evaluating growth opportunities and finalizing engagements with outside advisers, but it had not identified a signed acquisition, a restarted operation, or another revenue-producing business. Until it does, financing may keep the company running, but it does not by itself restore revenue.