Welcome to our dedicated page for MKTY news (Ticker: MKTY), a resource for investors and traders seeking the latest updates and insights on MKTY stock.
Our selection of high-quality news articles is accompanied by an expert summary from Rhea-AI, detailing the impact and sentiment surrounding the news at the time of release, providing a deeper understanding of how each news could potentially affect MKTY's stock performance. The page also features a concise end-of-day stock performance summary, highlighting the actual market reaction to each news event. The list of tags makes it easy to classify and navigate through different types of news, whether you're interested in earnings reports, stock offerings, stock splits, clinical trials, fda approvals, dividends or buybacks.
Designed with both novice traders and seasoned investors in mind, our page aims to simplify the complex world of stock market news. By combining real-time updates, Rhea-AI's analytical insights, and historical stock performance data, we provide a holistic view of MKTY's position in the market.
Mechanical Technology, Incorporated (NASDAQ:MKTY) will present at the Access to Giving Virtual Investor Conference from July 13-15, 2021. CEO Michael Toporek is scheduled to speak on July 15 at 2:30 PM ET. The conference aims to educate investors, featuring over 50 companies, keynote sessions, and one-on-one meetings to benefit financial literacy charities. The presentation will be broadcast live and available for replay. MTI also encompasses MTI Instruments and EcoChain, focusing on measurement technologies and renewable energy-powered cryptocurrency mining.
EcoChain, Inc., a subsidiary of Mechanical Technology, Incorporated (NASDAQ: MKTY), announced a revision of its reporting schedule due to the July 4th holiday. The company will now release its site-level results for June 2021 on July 14th, 2021. EcoChain specializes in operating low-cost green data centers aimed at cryptocurrency mining.
The announcement highlights the company’s commitment to renewable energy and the growth potential in the cryptocurrency sector.
EcoChain, a subsidiary of Mechanical Technology, Incorporated (NASDAQ: MKTY), has released its cryptocurrency mining revenue for April and May 2021. The company reported a total revenue of $560,000 and a contribution margin of $440,000 for April, followed by $618,000 in revenue and a contribution margin of $503,000 for May. Total revenue for 2021 reached $2.2 million with a contribution margin of $1.7 million. CEO Michael Toporek emphasizes the commitment to transparency and consistent reporting to investors.
EcoChain, Inc., a subsidiary of Mechanical Technology, Incorporated (NASDAQ: MKTY), has announced its monthly financial results through May 2021, highlighting a commitment to transparency. For April, EcoChain reported revenue of $560,000 and a contribution margin of $440,000. In May, revenues increased to $618,000 with a contribution margin of $503,000. The total revenue for 2021 thus far is $2.2 million with a contribution margin of $1.7 million. CEO Michael Toporek expressed satisfaction with the release of these figures as part of regular financial disclosures.
Mechanical Technology, Incorporated (NASDAQ:MKTY) has been invited to present at the Summer Solstice - Best Ideas from the Buy-Side conference from June 1st to 4th, 2021. CEO Michael Toporek is set to present on June 1st at 10:00 am ET. The event, hosted virtually, enables one-on-one meetings and will feature a live webcast of the presentation. This conference highlights 35 companies identified as top investment ideas by qualified institutional investors. MTI operates in test and measurement systems and renewable energy-powered cryptocurrency mining.
Mechanical Technology, Incorporated (NASDAQ: MKTY) reported a strong Q1 2021, with revenues reaching $2.3 million, a 47% increase year-over-year. The boost was driven by EcoChain's 171% annual growth in cryptocurrency revenue, totaling $995 thousand. MTI Instruments generated $1.3 million in revenue, down $246 thousand from last year. The company has maintained a solid cash position of $2.7 million and raised $15 million in equity funding to support growth initiatives, including new leasing agreements and cryptocurrency mining infrastructure.
EcoChain, Inc., a subsidiary of Mechanical Technology, Incorporated (NASDAQ: MKTY), has released a document illustrating its business model as it expands capacity. The 8-K filing includes assumptions to help shareholders understand the mechanics behind its operations. The Company will also provide monthly revenue and margin reports starting June 10, 2021, covering May 2021 results. CEO Michael Toporek expressed confidence in their progress toward managing 50 megawatts of processing power in 2021, aiming for transparency and accountability.
EcoChain, Inc., a subsidiary of Mechanical Technology, Incorporated (NASDAQ: MKTY), announced two new lease agreements in the Southeast United States that will enhance its cryptocurrency mining capabilities. The first lease covers a 25-year term with initial capacity of 12 megawatts, potentially upgradable to 14.1 megawatts, and involves a consideration of $500,000 in cash and $4 million payable in cash or shares. The second lease provides access to additional land for 10 megawatts, with 100 megawatts available subject to negotiation. The company aims to meet its goal of 50 megawatts under management.
Mechanical Technology, Incorporated (NASDAQ: MKTY) has completed a firm commitment underwritten public offering of 2,419,355 shares at a price of $6.20 per share, raising gross proceeds of $15 million. After expenses, net proceeds are approximately $13.35 million. The accompanying warrants allow the purchase of up to 604,839 shares at an exercise price of $8.24. Funds will be used for data center acquisitions, cryptocurrency mining equipment, and general corporate purposes, enhancing growth potential in the renewable energy sector.
Mechanical Technology, Incorporated (NASDAQ: MKTY) has announced the pricing of a public offering of 2,419,355 shares of common stock, coupled with warrants to purchase an additional 604,839 shares. The offering price is set at $6.20 per share, with gross proceeds expected to be around $15 million. The company plans to utilize the funds for data center development, cryptocurrency mining infrastructure, and general corporate purposes. The offering is slated to close on or about April 29, 2021.
