MGT Capital Investments (MGTI) 10-K 31 Mar 22 2021 FY Annual report Financial data

Cover

Cover - USD ($)	12 Months Ended
	Dec. 31, 2021	Mar. 31, 2022	Jun. 30, 2021
Cover [Abstract]
Document Type	10-K
Amendment Flag	false
Document Annual Report	true
Document Transition Report	false
Document Period End Date	Dec. 31, 2021
Document Fiscal Period Focus	FY
Document Fiscal Year Focus	2021
Current Fiscal Year End Date	--12-31
Entity File Number	001-32698
Entity Registrant Name	MGT CAPITAL INVESTMENTS, INC.
Entity Central Index Key	0001001601
Entity Tax Identification Number	13-4148725
Entity Incorporation, State or Country Code	DE
Entity Address, Address Line One	150 Fayetteville Street
Entity Address, Address Line Two	Suite 1110
Entity Address, City or Town	Raleigh
Entity Address, State or Province	NC
Entity Address, Postal Zip Code	27601
City Area Code	914
Local Phone Number	630–7430
Entity Well-known Seasoned Issuer	No
Entity Voluntary Filers	No
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Non-accelerated Filer
Entity Small Business	true
Entity Emerging Growth Company	false
Entity Shell Company	false
Entity Public Float			$ 24,015,261
Entity Common Stock, Shares Outstanding		640,970,903
ICFR Auditor Attestation Flag	false
Auditor Name	RBSM LLP
Auditor Firm ID	587
Auditor Location	Las Vegas, NV

Consolidated Balance Sheets

Consolidated Balance Sheets - USD ($) $ in Thousands	Dec. 31, 2021	Dec. 31, 2020
Current assets
Cash and cash equivalents	$ 1,230	$ 236
Accounts receivable, net	180
Prepaid expenses and other current assets	125	10
Intangible digital assets		4
Total current assets	1,535	250
Non-current assets
Property and equipment, at cost, net	1,229	1,872
Right of use asset, operating lease, net of accumulated amortization	55	56
Investment - Available for sale	50
Other assets	3	123
Total assets	2,872	2,301
Current liabilities
Accounts payable	211	1,261
Accrued expenses and other payables	105	242
Security deposit	245
Convertible note payable, net of debt discount		5
Operating lease liability	35	23
Warrant derivative liability	1,130
Derivative liability		246
Total current liabilities	1,726	1,777
Non-current liabilities
Operating lease liability long-term	17	33
Total liabilities	1,743	1,810
Commitments and Contingencies (Note 11)
Stockholders’ Equity
Common stock, $0.001 par value; 2,500,000,000 shares authorized; 606,970,903 and 506,779,781 shares issued and outstanding at December 31, 2021 and December 31, 2020, respectively.	607	507
Additional paid-in capital	420,450	418,373
Accumulated deficit	(419,928)	(418,389)
Total stockholders’ equity	1,129	491
Total Liabilities and Stockholders’ Equity	2,872	2,301
Undesignated Preferred Stock [Member]
Stockholders’ Equity
Preferred stock
Series B Preferred Stock [Member]
Stockholders’ Equity
Preferred stock
Series C Convertible Preferred Stock [Member]
Stockholders’ Equity
Preferred stock

Consolidated Balance Sheets (Pa

Consolidated Balance Sheets (Parenthetical) - $ / shares	Dec. 31, 2021	Dec. 31, 2020
Common stock, par value	$ 0.001	$ 0.001
Common stock, shares authorized	2,500,000,000	2,500,000,000
Common stock, shares issued	606,970,903	506,779,781
Common stock, shares, outstanding	606,970,903	506,779,781
Undesignated Preferred Stock [Member]
Preferred stock, par value	$ 0.001	$ 0.001
Preferred stock, shares authorized	8,489,800	8,489,800
Preferred stock, shares issued	0	0
Preferred stock, shares outstanding	0	0
Series B Preferred Stock [Member]
Preferred stock, par value	$ 0.001	$ 0.001
Preferred stock, shares authorized	10,000	10,000
Preferred stock, shares issued	0	0
Preferred stock, shares outstanding	0	0
Series C Convertible Preferred Stock [Member]
Preferred stock, par value	$ 0.001	$ 0.001
Preferred stock, shares authorized	200	200
Preferred stock, shares issued	0	115
Preferred stock, shares outstanding	0	115

Consolidated Statements of Oper

Consolidated Statements of Operations - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020
Revenue
Total revenue	$ 883	$ 1,434
Operating expenses
Cost of revenue	906	1,728
General and administrative	1,764	2,583
Total operating expenses	2,670	4,311
Operating loss	(1,787)	(2,877)
Other non-operating income (expense)
Interest expense	(340)	(347)
Funding from SBA PPP loan		111
Change in fair value of liability		26
Change in fair value of warrant derivative liability	955
Change in fair value of derivative liability	(79)	309
Loss on settlement of derivative	(228)
Accretion of debt discount	(526)	(882)
Gain (loss) on sale of property and equipment	246	(352)
Other income	392	125
Other expense	(306)
Gain on settlement of payables	675
Loss on settlement of debt	(541)
Total non-operating expense	248	(1,010)
Net loss	$ (1,539)	$ (3,887)
Per-share data
Basic and diluted loss per share	$ 0	$ (0.01)
Weighted average number of common shares outstanding	558,522,919	473,752,463
BitCoin Mining [Member].
Revenue
Total revenue	$ 686	$ 1,434
Hosting Services [Member].
Revenue
Total revenue	$ 197

Consolidated Statements of Chan

Consolidated Statements of Changes in Stockholders' Equity - USD ($) $ in Thousands	Preferred Stock [Member]	Common Stock [Member]	Additional Paid-in Capital [Member]	Retained Earnings [Member]	Total
Balance at Dec. 31, 2019		$ 414	$ 417,315	$ (414,502)	$ 3,227
Balance, shares at Dec. 31, 2019	115	413,701,289
Stock based compensation - employee restricted stock			222		222
Common stock issued on conversion of notes payable		$ 93	836		929
Common stock issued on conversion of notes payable, shares		93,078,492
Net loss				(3,887)	(3,887)
Balance at Dec. 31, 2020		$ 507	418,373	(418,389)	491
Balance, shares at Dec. 31, 2020	115	506,779,781
Common stock issued on conversion of notes payable		$ 11	506		517
Common stock issued on conversion of notes payable, shares		11,435,288
Net loss				(1,539)	(1,539)
Common stock issued on conversion of Preferred C shares		$ 30	(30)
Common stock issued on conversion of Preferred C shares, shares	(115)	29,870,130
Beneficial conversion feature			1,000		1,000
Issuance of common stock and warrants for cash, net of issuance costs and warrant derivative liability		$ 35	(10)		25
Issuance of common stock and warrants, shares		35,385,704
Cashless exercise of warrants and extinguishment of related warrant derivative liability		$ 24	611		635
Cashless exercise of warrants and extinguishment of related warrant derivative liabilityShares		23,500,000
Balance at Dec. 31, 2021		$ 607	$ 420,450	$ (419,928)	$ 1,129
Balance, shares at Dec. 31, 2021		606,970,903

Consolidated Statements of Cash

Consolidated Statements of Cash Flows - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020
Cash Flows From Operating Activities
Net loss	$ (1,539)	$ (3,887)
Adjustments to reconcile net loss to net cash used in operating activities
Depreciation	675	1,102
(Gain) loss on sale of property and equipment	(246)	352
Impairment of property and equipment		49
Change in fair value of liability		(26)
Change in fair value of warrants	(955)
Change in fair value of derivative liability	79	(309)
(Gain) loss on settlement of derivative	228
Stock-based compensation expense		222
Funding from SBA PPP loan recognized as income		(111)
Gain on settlement of payables	(675)
Loss on settlement of debt	541
Amortization of note discount	526	882
Non-cash interest expense	270	355
Non-operating expense	306
Change in operating assets and liabilities
Accounts receivable	(180)
Prepaid expenses and other current assets	(115)	115
Intangible digital assets	4	14
Management agreement termination liability		(90)
Operating lease liability	(3)
Other assets	120
Security deposit	245
Accounts payable	(375)	466
Accrued expenses	(66)	216
Net cash used in operating activities	(1,160)	(650)
Cash Flows From Investing Activities
Purchase of property and equipment	(212)	(376)
Proceeds from sale of property and equipment	426	686
Purchase of investment	(50)
Proceeds from sale of Bitcoin received for sale of equipment		53
Deposits made on property and equipment		(38)
Refund of security deposit		34
Net cash provided by (used in) investing activities	164	359
Cash Flows From Financing Activities
Proceeds from SBA PPP loan		111
Proceeds from the issuance of notes payable, net of original issue discount	1,000	200
Proceeds from sale of stock under equity purchase agreement, net of issuance costs	990
Net cash provided by financing activities	1,990	311
Net change in cash and cash equivalents	994	20
Cash and cash equivalents, beginning of year	236	216
Cash and cash equivalents, end of year	1,230	236
Supplemental disclosure of cash flow information
Cash paid for interest
Cash paid for income tax
Non-cash investing and financing activities
Conversion of notes payable into common stock	230	929
Beneficial conversion feature	1,000
Exchange of notes payable to warrants	1,210
Conversion of Series C convertible preferred stock into common stock	30
Cashless exercise of warrants and extinguishment of related warrant derivative liability	635
Debt discount on associated with convertible note		230
Reclassification of deposit to property plant and equipment		$ 202

Organization and Basis of Prese

Organization and Basis of Presentation	12 Months Ended
	Dec. 31, 2021
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Organization and Basis of Presentation	Note 1. Organization and Basis of Presentation Organization The Company is a Delaware corporation incorporated in 2000. MGT was originally incorporated in Utah in 1977. MGT is comprised of the parent company and formerly its wholly owned subsidiary MGT Sweden AB. MGT Sweden AB was dissolved effective October 1, 2021. MGT’s corporate office is in Raleigh, North Carolina. Current Operations Cryptocurrency mining Following a review of our Bitcoin mining operations in early 2019, we consolidated our activities at a Company-owned and managed facility in LaFayette, GA. Located adjacent to a utility substation, the several-acre property has access to about 20 megawatts (MW) of low-cost electrical power, about half of which is presently utilized by the Company. As of December 31, 2021 and March 31, 2022, the Company owned 480 and 430 Antminer S17 Pro Bitcoin miners (“S17 miners”), respectively, plus 35 Antminer S19 Pro miners as of March 31, 2022. All miners are located at our Georgia facility. As more fully described in the following paragraph, over three-quarters of the S17 miners require various repairs to be productive. We purchased a total of 1,506 S17 miners in the latter part of 2019 directly from Bitmaintech Pte. Ltd. (“Bitmain”), for an aggregate purchase price of approximately $ 2,768 869 During 2020, the Company began to suffer component issues, such as heat sinks detaching from hash boards, and failures of both power supplies and hash board temperature sensors. Although Bitmain has acknowledged manufacturing defects in various production runs of S17 miners, the Company was unsuccessful in obtaining any compensation from Bitmain. The manufacturing defects, combined with inadequate repair facilities has rendered approximately 350 of our remaining 430 S17 miners in need of repair or replacement. To date, in addition to a significant amount in lost revenue, we have incurred approximately $140 in costs of repairing or replacing the defective machines. Currently, we plan to sell all our remaining inventory of S17 miners, as well as loose hash boards, power supplies, controller boards, and other parts. MGT’s miners are housed in a modified shipping container on the property in Georgia owned by the Company. The entire facility, including the land and improvements, five 2500 KVA 3-phase transformers, three mining containers, and miners, are owned by MGT. We continue to explore ways to grow and maintain our current operations including but not limited to further potential equipment sales and raising capital to acquire the newest generation miners. The Company is also investigating other sites to develop into Bitcoin mining facilities in addition to expansion at its current property. Leasing Operations In addition to its self-mining operations, the Company leases its owned space to other Bitcoin miners and also provides hosting services for owners of mining equipment. These measures improve utilization of the electrical infrastructure and better insulate us against the volatility of Bitcoin mining. Basis of presentation The accompanying consolidated financial statements for the years ended December 31, 2021 and 2020 have been prepared in accordance with generally accepted accounting principles in the United States of America (“U.S. GAAP”) and applicable rules and regulations of the United States Securities and Exchange Commission (“SEC”). COVID-19 pandemic: The COVID-19 pandemic represents a fluid situation that presents a wide range of potential impacts of varying durations for different global geographies, including locations where we have offices, employees, customers, vendors and other suppliers and business partners. MGT CAPITAL INVESTMENTS, INC. AND SUBSIDARY NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS (Dollars in thousands, except share and per–share amounts) Like most US-based businesses, the COVID-19 pandemic and efforts to mitigate the same began to have impacts on our business in March 2020. By that time, much of our first fiscal quarter was completed. Given the daily evolution of the COVID-19 outbreak and the global responses to curb its spread, we are not able to estimate the effects of the COVID-19 outbreak on our results of operations, financial condition, or liquidity for the year ended December 31, 2021. In light of broader macro-economic risks and already known impacts on certain industries, we have taken, and continue to take targeted steps to lower our operating expenses because of the COVID-19 pandemic. We continue to monitor the impacts of COVID-19 on our operations closely and this situation could change based on a significant number of factors that are not entirely within our control and are discussed in this and other sections of this annual report on Form 10-K. To date, travel restrictions and border closures have not materially impacted our ability to operate. However, if such restrictions become more severe, they could negatively impact those activities in a way that would harm our business over the long term. Travel restrictions impacting people can restrain our ability to operate, but at present we do not expect these restrictions on personal travel to be material to our business operations or financial results. Like most companies, we have taken a range of actions with respect to how we operate to assure we comply with government restrictions and guidelines as well as best practices to protect the health and well-being of our employees. We have also undertaken measures to reduce our administrative and advisory costs required as a publicly reporting company. Actions taken to date include salary reductions for senior management and termination of certain consulting agreements. However, the impacts of COVID-19 and efforts to mitigate the same have remained unpredictable and it remains possible that challenges may arise in the future.

Going Concern and Management_s

Going Concern and Management’s Plans	12 Months Ended
	Dec. 31, 2021
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Going Concern and Management’s Plans	Note 2. Going Concern and Management’s Plans The accompanying consolidated financial statements have been prepared on a going concern basis, which contemplates the realization of assets and the satisfaction of liabilities in the normal course of business. As of December 31, 2021, the Company had incurred significant operating losses since inception and continues to generate losses from operations. As of December 31, 2021, the Company had an accumulated deficit of $ 419,928 1,230 The Company will require additional funding to grow its operations. Further, depending upon operational profitability, the Company may also need to raise additional funding for ongoing working capital purposes. There can be no assurance however that the Company will be able to raise additional capital when needed, or at terms deemed acceptable, if at all. The Company’s ability to raise additional capital is impacted by the volatility of Bitcoin mining economics and the SEC’s ongoing enforcement action against our Chief Executive Officer, both of which are highly uncertain, cannot be predicted, and could have an adverse effect on the Company’s business and financial condition. Since January 2021, the Company has secured working capital from the sale of common stock and warrants, the issuance of a convertible note, and the sale of assets. Such factors raise substantial doubt about the Company’s ability to sustain operations for at least one year from the issuance of these consolidated financial statements. The accompanying consolidated financial statements do not include any adjustments related to the recoverability and classification of asset amounts or the classification of liabilities that might be necessary should the Company be unable to continue as a going concern.

Summary of Significant Accounti

Summary of Significant Accounting Policies	12 Months Ended
	Dec. 31, 2021
Accounting Policies [Abstract]
Summary of Significant Accounting Policies	Note 3. Summary of Significant Accounting Policies Principles of consolidation The consolidated financial statements include the accounts of MGT and MGT Sweden AB. All intercompany transactions and balances have been eliminated. MGT CAPITAL INVESTMENTS, INC. AND SUBSIDARY NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS (Dollars in thousands, except share and per–share amounts) Use of estimates and assumptions and critical accounting estimates and assumptions The preparation of financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and the disclosure of contingent assets and liabilities as of the date of the financial statements, and also affect the amounts of revenues and expenses reported for each period. Actual results could differ from those which result from using such estimates. Management utilizes various other estimates, including but not limited to determining the estimated lives of long-lived assets, stock compensation, determining the potential impairment of long-lived assets, the fair value of warrants issued, the fair value of conversion features, the recognition of revenue, the valuation allowance for deferred tax assets and other legal claims and contingencies. The results of any changes in accounting estimates are reflected in the financial statements in the period in which the changes become evident. Estimates and assumptions are reviewed periodically, and the effects of revisions are reflected in the period that they are determined to be necessary. Cash and cash equivalents The Company considers all highly liquid instruments with an original maturity of three months or less when acquired to be cash equivalents. The Company’s combined accounts were $ 1,230 236 250 980 0 Accounts Receivable Accounts receivable are generally unsecured. The Company establishes an allowance for doubtful accounts receivable based on the age of outstanding invoices and management’s evaluation of collectability. Accounts are written off after all reasonable collection efforts have been exhausted and management concludes that likelihood of collection is remote. Any future recoveries are applied against the allowance for doubtful accounts. As of December 31, 2021 and December 31, 2020, we did not believe we needed to reserve for any doubtful accounts, respectively. Cryptocurrencies Cryptocurrencies, (including bitcoin and bitcoin cash) are included in current assets in the accompanying consolidated balance sheets. Any cryptocurrencies purchased are recorded at cost and cryptocurrencies awarded to the Company through its mining activities are accounted for in connection with the Company’s revenue recognition policy disclosed in this note. Cryptocurrencies held are accounted for as intangible assets with indefinite useful lives. An intangible asset with an indefinite useful life is not amortized but assessed for impairment annually, or more frequently, when events or changes in circumstances occur indicating that it is more likely than not that the indefinite-lived asset is impaired. Impairment exists when the carrying amount exceeds its fair value, which is measured using the quoted price of the cryptocurrency at the time its fair value is being measured. In testing for impairment, the Company has the option to first perform a qualitative assessment to determine whether it is more likely than not that an impairment exists. If it is determined that it is not more likely than not that an impairment exists, a quantitative impairment test is not necessary. If the Company concludes otherwise, it is required to perform a quantitative impairment test. To the extent an impairment loss is recognized, the loss establishes the new cost basis of the asset. Subsequent reversal of impairment losses is not permitted. Any purchases of cryptocurrencies by the Company are included within investing activities in the accompanying consolidated statements of cash flows, while cryptocurrencies awarded to the Company through its mining activities are included within operating activities on the accompanying consolidated statements of cash flows. The sales of cryptocurrencies are included within investing activities in the accompanying consolidated statements of cash flows and any realized gains or losses from such sales are included in other income (expense) in the consolidated statements of operations. The Company accounts for its gains or losses in accordance with the first in first out (FIFO) method of accounting. Halving – The Bitcoin blockchain and the cryptocurrency reward for solving a block is subject to periodic incremental halving. Halving is a process designed to control the overall supply and reduce the risk of inflation in cryptocurrencies using a Proof-of-Work consensus algorithm. At a predetermined block, the mining reward is cut in half, hence the term “Halving.” A Halving for bitcoin occurred on May 12, 2020. Many factors influence the price of Bitcoin and potential increases or decreases in prices in advance of or following a future halving is unknown. MGT CAPITAL INVESTMENTS, INC. AND SUBSIDARY NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS (Dollars in thousands, except share and per–share amounts) The following table presents the activities of digital currencies for the years ended December 31, 2021 and 2020: Schedule of Digital Currencies Digital currencies at January 1, 2020 $ 18 Additions of digital currencies from mining 1,434 Additions of digital currencies from the sale of property and equipment 53 Payment of digital currencies to management partners (90 ) Realized gain on sale of digital currencies 29 Net realizable value adjustment (2 ) Sale of digital currencies (1,438 ) Digital currencies at December 31, 2020 4 Additions of digital currencies from mining 686 Realized gain on sale of digital currencies 1 Sale of digital currencies (691 ) Digital currencies at December 31, 2021 $ - Investment – Available for sale Available-for-sale securities are carried at fair value. Unrealized gains and losses are included in accumulated other comprehensive income within the equity section of the balance sheet. Realized gains and losses, if any, are calculated on the specific identification method and are included in other income in the consolidated statements of operations. Property and Equipment Property and equipment are stated at cost less accumulated depreciation. Depreciation is calculated using the straight–line method on the various asset classes over their estimated useful lives, which range from one to ten years when placed in service. The cost of repairs and maintenance is expensed as incurred; major replacements and improvements are capitalized. When assets are retired or disposed of, the cost and accumulated depreciation are removed from the accounts, and any resulting gains or losses are included in income in the year of disposition. Deposits on property and equipment are initially classified as Other Assets and upon delivery, installation and full payment, the assets are classified as property and equipment on the consolidated balance sheet. Segment Reporting Operating segments are defined as components of an enterprise about which separate financial information is available that is evaluated regularly as the company reviews financial information. The Company currently operates in the Digital Currency Blockchain segment with our mining facility located in the United States. The Company also provides hosting services which are also located in the United States. The Company has employees only in the United States and views its operations as one operating segment as management reviews financial information on a consolidated basis in making decisions regarding resource allocations and assessing performance. Leases The Company accounts for its leases under ASC 842, Leases. Under this guidance, arrangements meeting the definition of a lease are classified as operating or financing leases and are recorded on the consolidated balance sheet as both a right of use asset and lease liability, calculated by discounting fixed lease payments over the lease term at the rate implicit in the lease or the Company’s incremental borrowing rate. Lease liabilities are increased by interest and reduced by payments each period, and the right of use asset is amortized over the lease term. For operating leases, interest on the lease liability and the amortization of the right of use asset result in straight-line rent expense over the lease term. Variable lease expenses, if any, are recorded when incurred. Derivative Instruments Derivative financial instruments are recorded in the accompanying consolidated balance sheets at fair value in accordance with ASC 815. When the Company enters into a financial instrument such as a debt or equity agreement (the “host contract”), the Company assesses whether the economic characteristics of any embedded features are clearly and closely related to the primary economic characteristics of the remainder of the host contract. When it is determined that (i) an embedded feature possesses economic characteristics that are not clearly and closely related to the primary economic characteristics of the host contract, and (ii) a separate, stand-alone instrument with the same terms would meet the definition of a financial derivative instrument, then the embedded feature is bifurcated from the host contract and accounted for as a derivative instrument. The estimated fair value of the derivative feature is recorded in the accompanying consolidated balance sheets separately from the carrying value of the host contract. Subsequent changes in the estimated fair value of derivatives are recorded as a gain or loss in the Company’s consolidated statements of operations. Revenue recognition Cryptocurrency mining MGT CAPITAL INVESTMENTS, INC. AND SUBSIDARY NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS (Dollars in thousands, except share and per–share amounts) The Company recognizes revenue under Accounting Standards Codification (“ASC”) 606, Revenue from Contracts with Customers, (“ASC 606”). The core principle of the revenue standard is that a company should recognize revenue to depict the transfer of promised goods or services to customers in an amount that reflects the consideration to which the Company expects to be entitled in exchange for those goods or services. The following five steps are applied to achieve that core principle: ● Step 1: Identify the contract with the customer ● Step 2: Identify the performance obligations in the contract  ● Step 3: Determine the transaction price   ● Step 4: Allocate the transaction price to the performance obligations in the contract   ● Step 5: Recognize revenue when the Company satisfies a performance obligation   In order to identify the performance obligations in a contract with a customer, a company must assess the promised goods or services in the contract and identify each promised good or service that is distinct. A performance obligation meets ASC 606’s definition of a “distinct” good or service (or bundle of goods or services) if both of the following criteria are met: The customer can benefit from the good or service either on its own or together with other resources that are readily available to the customer (i.e., the good or service is capable of being distinct), and the entity’s promise to transfer the good or service to the customer is separately identifiable from other promises in the contract (i.e., the promise to transfer the good or service is distinct within the context of the contract). If a good or service is not distinct, the good or service is combined with other promised goods or services until a bundle of goods or services is identified that is distinct. The transaction price is the amount of consideration to which an entity expects to be entitled in exchange for transferring promised goods or services to a customer. The consideration promised in a contract with a customer may include fixed amounts, variable amounts, or both. When determining the transaction price, an entity must consider the effects of all of the following: ● Variable consideration   ● Constraining estimates of variable consideration   ● The existence of a significant financing component in the contract   ● Noncash consideration   ● Consideration payable to a customer   Variable consideration is included in the transaction price only to the extent that it is probable that a significant reversal in the amount of cumulative revenue recognized will not occur when the uncertainty associated with the variable consideration is subsequently resolved. The transaction price is allocated to each performance obligation on a relative standalone selling price basis. The transaction price allocated to each performance obligation is recognized when that performance obligation is satisfied, at a point in time or over time as appropriate. The Company has entered into digital asset mining pools by agreeing to terms and conditions, as amended from time to time, with the mining pool operators to provide computing power to the mining pool. The agreements are terminable at any time by either party and the Company’s enforceable right to compensation only begins when the Company provides computing power to the mining pool operator. In exchange for providing computing power, the Company is entitled to a fractional share of the fixed cryptocurrency award the mining pool operator receives (less digital asset transaction fees to the mining pool operator which are recorded as a component of cost of revenues), for successfully adding a block to the blockchain. The terms of the agreement provide that neither party can dispute settlement terms after thirty-five days following settlement. The Company’s fractional share is based on the proportion of computing power the Company contributed to the mining pool operator to the total computing power contributed by all mining pool participants in solving the current algorithm. Providing computing power to solve complex cryptographic algorithms in support of the Bitcoin blockchain (in a process known as “solving a block”) is an output of the Company’s ordinary activities. The provision of providing such computing power is the only performance obligation in the Company’s contracts with mining pool operators. The transaction consideration the Company receives, if any, is noncash consideration, which the Company measures at fair value on the date received, which is not materially different than the fair value at contract inception or the time the Company has earned the award from the pools. The consideration is all variable. Because it is not probable that a significant reversal of cumulative revenue will not occur, the consideration is constrained until the mining pool operator successfully places a block (by being the first to solve an algorithm) and the Company receives confirmation of the consideration it will receive, at which time revenue is recognized. There is no significant financing component in these transactions. MGT CAPITAL INVESTMENTS, INC. AND SUBSIDARY NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS (Dollars in thousands, except share and per–share amounts) Fair value of the cryptocurrency award received is determined using the quoted price of the related cryptocurrency at the time of receipt. There is currently no specific definitive guidance under GAAP or alternative accounting framework for the accounting for cryptocurrencies recognized as revenue or held, and management has exercised significant judgment in determining the appropriate accounting treatment. In the event authoritative guidance is enacted by the Financial Accounting Standards Board (“FASB”), the Company may be required to change its policies, which could have an effect on the Company’s consolidated financial position and results from operations. Other Revenues We receive revenues from third parties renting capacity at our facility and from hosting miners owned by others. The Company recognized $ 197 0 Stock–based compensation The Company applies ASC 718-10, “Share- Based Payment,” which requires the measurement and recognition of compensation expenses for all share-based payment awards made to employees and directors including employee stock options under the Company’s stock plans and equity awards issued to non-employees based on estimated fair values. ASC 718-10 requires companies to estimate the fair value of equity-based option awards on the date of grant using an option-pricing model. The fair value of the award is recognized as an expense on a straight-line basis over the requisite service periods in the Company’s consolidated statements of comprehensive loss. Restricted stock awards are granted at the discretion of the compensation committee of the board of directors of the Company (the “Board”). These awards are restricted as to the transfer of ownership and generally vest over the requisite service periods, typically over a 12 24 The fair value of an option award is estimated on the date of grant using the Black–Scholes option valuation model. The Black–Scholes option valuation model requires the development of assumptions that are inputs into the model. These assumptions are the expected stock volatility, the risk–free interest rate, the expected life of the option, the dividend yield on the underlying stock and the expected forfeiture rate. Expected volatility is calculated based on the historical volatility of the Company’s common stock over the expected term of the option. Risk–free interest rates are calculated based on continuously compounded risk–free rates for the appropriate term. Determining the appropriate fair value model and calculating the fair value of equity–based payment awards require the input of the subjective assumptions described above. The assumptions used in calculating the fair value of equity–based payment awards represent management’s best estimates, which involve inherent uncertainties and the application of management’s judgment. The Company is required to estimate the expected forfeiture rate and recognize expense only for those shares expected to vest. Gain (Loss) on Modification/Extinguishment of Debt In accordance with ASC 470, a modification or an exchange of debt instruments that adds or eliminates a conversion option that was substantive at the date of the modification or exchange is considered a substantive change and is measured and accounted for as extinguishment of the original instrument along with the recognition of a gain or loss. Additionally, under ASC 470, a substantive modification of a debt instrument is deemed to have been accomplished with debt instruments that are substantially different if the present value of the cash flows under the terms of the new debt instrument is at least 10 percent different from the present value of the remaining cash flows under the terms of the original instrument. A substantive modification is accounted for as an extinguishment of the original instrument along with the recognition of a gain or loss. MGT CAPITAL INVESTMENTS, INC. AND SUBSIDARY NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS (Dollars in thousands, except share and per–share amounts) Impairment of long-lived assets Long-lived assets are reviewed for impairment whenever facts or circumstances either internally or externally may suggest that the carrying value of an asset may not be recoverable, should there be an indication of impairment, we test for recoverability by comparing the estimated undiscounted future cash flows expected to result from the use of the asset to the carrying amount of the asset or asset group. Any excess of the carrying value of the asset or asset group over its estimated fair value is recognized as an impairment loss. Income taxes The Company accounts for income taxes in accordance with ASC 740, “Income Taxes”. ASC 740 requires an asset and liability approach for financial accounting and reporting for income taxes and established for all the entities a minimum threshold for financial statement recognition of the benefit of tax positions and requires certain expanded disclosures. The provision for income taxes is based upon income or loss after adjustment for those permanent items that are not considered in the determination of taxable income. Deferred income taxes represent the tax effects of differences between the financial reporting and tax basis of the Company’s assets and liabilities at the enacted tax rates in effect for the years in which the differences are expected to reverse. The Company evaluates the recoverability of deferred tax assets and establishes a valuation allowance when it is more likely than not that some portion or all the deferred tax assets will not be realized. Management makes judgments as to the interpretation of the tax laws that might be challenged upon an audit and cause changes to previous estimates of tax liability. In management’s opinion, adequate provisions for income taxes have been made. If actual taxable income by tax jurisdiction varies from estimates, additional allowances or reversals of reserves may be necessary. Loss per share Basic loss per share is calculated by dividing net loss applicable to common shareholders by the weighted average number of common shares outstanding during the period. Diluted loss per share is calculated by dividing the net loss attributable to common shareholders by the sum of the weighted average number of common shares outstanding plus potential dilutive common shares outstanding during the period. Potential dilutive securities, comprised of unvested restricted shares, convertible debt stock warrants, stock options, convertible debt and convertible preferred stock are not reflected in diluted net loss per share because such potential shares are anti–dilutive due to the Company’s net loss. Accordingly, the computation of diluted loss per share for the year ended December 31, 2021 excludes 74,614,871 33,333 9,173,651 45,634,921 Fair Value Measure and Disclosures ASC 820 “Fair Value Measurements and Disclosures” provides the framework for measuring fair value. That framework provides a fair value hierarchy that prioritizes the inputs to valuation techniques used to measure fair value. The hierarchy gives the highest priority to unadjusted quoted prices in active markets for identical assets or liabilities (Level 1 measurements) and the lowest priority to unobservable inputs (Level 3 measurements). Fair value is defined as an exit price, representing the amount that would be received upon the sale of an asset or payment to transfer a liability in an orderly transaction between market participants. Fair value is a market-based measurement that is determined based on assumptions that market participants would use in pricing an asset or liability. A three-tier fair value hierarchy is used to prioritize the inputs in measuring fair value as follows: ● Level 1 Quoted prices in active markets for identical assets or liabilities. ● Level 2 Quoted prices for similar assets or liabilities in active markets, quoted prices for identical or similar assets or liabilities in markets that are not active, or other inputs that are observable, either directly or indirectly. ● Level 3 Significant unobservable inputs that cannot be corroborated by market data. As of December 31, 2021, the Company had a Level 3 financial instrument related to the warrant derivative liability. As of December 31, 2020, the Company had a Level 3 financial instrument related to the derivative liability. MGT CAPITAL INVESTMENTS, INC. AND SUBSIDARY NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS (Dollars in thousands, except share and per–share amounts) Management’s evaluation of subsequent events The Company evaluates events that have occurred after the balance sheet date but before the financial statements are issued. Based upon the review, other than what is described in Note 14 – Subsequent Events, the Company did not identify any recognized or non-recognized subsequent events that would have required adjustment or disclosure in the consolidated financial statements. Reclassification Certain prior years balances have been reclassified to conform to current year presentation. Recent accounting pronouncements Management does not believe that any recently issued, but not yet effective accounting pronouncements, when adopted, will have a material effect on the accompanying consolidated financial statements, other than those disclosed below. In August 2020, the FASB issued Accounting Standards Update (“ASU”) 2020-06, “Debt – Debt with Conversion and Other Options (Subtopic 470-20) and Derivatives and Hedging – Contracts in Entity’s Own Equity (Subtopic 815 – 40)” (“ASU 2020-06”). ASU 2020-06 simplifies the accounting for certain financial instruments with characteristics of liabilities and equity, including convertible instruments and contracts on an entity’s own equity. The ASU is part of the FASB’s simplification initiative, which aims to reduce unnecessary complexity in U.S. GAAP. The ASU’s amendments are effective for fiscal years beginning after December 15, 2023, and interim periods within those fiscal years. The Company is currently evaluating the impact ASU 2020-06 will have on its financial statements.

Accounts receivable

Accounts receivable	12 Months Ended
	Dec. 31, 2021
Receivables [Abstract]
Accounts receivable	Note 4. Accounts receivable Accounts receivable balance of $ 180

Property and Equipment and Othe

Property and Equipment and Other Assets	12 Months Ended
	Dec. 31, 2021
Property, Plant and Equipment [Abstract]
Property and Equipment and Other Assets	Note 5. Property and Equipment and Other Assets Property and equipment consisted of the following: Schedule of Property and Equipment As of December 31, 2021 December 31, 2020 Land $ 55 $ 57 Computer hardware and software 10 10 Bitcoin mining machines 910 1,206 Infrastructure 1,117 905 Containers 403 550 Leasehold improvements 4 4 Property and equipment, gross 2,499 2,732 Less: Accumulated depreciation (1,270 ) (860 ) Property and equipment, net $ 1,229 $ 1,872 The Company recorded depreciation expense of $ 675 1,102 246 352 49 Other assets consisted of the following: Schedule of Other Assets As of December 31, 2021 December 31, 2020 Security deposits 3 123 Other Assets $ 3 $ 123 MGT CAPITAL INVESTMENTS, INC. AND SUBSIDARY NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS (Dollars in thousands, except share and per–share amounts) The Company has paid $ 120 3 120

Investment _ Available for sale

Investment – Available for sale	12 Months Ended
	Dec. 31, 2021
Investments, All Other Investments [Abstract]
Investment – Available for sale	Note 6. Investment – Available for sale In December 2021, the Company invested $ 50 8 December 31, 2024 5

Notes Payable

Notes Payable	12 Months Ended
	Dec. 31, 2021
Debt Disclosure [Abstract]
Notes Payable	Note 7. Notes Payable June 2018 Note On June 1, 2018, the Company entered into a note purchase agreement with an accredited investor, pursuant to which the Company issued an unsecured promissory note in the amount of $ 3,600 3,000 April 1, 2019 120 929 During the year ended December 31, 2020, the Company issued 93,078,492 929 0 December 2020 Note On December 8, 2020, the Company entered into a securities purchase agreement pursuant to which it issued a convertible promissory note in the principal amount of $ 230 70 200 8 The Company determined that the embedded conversion feature of the convertible promissory note meets the definition of a beneficial conversion feature and a derivative liability which is accounted for separately. The Company measured the beneficial conversion feature’s intrinsic value on December 8, 2020 and determined that the beneficial conversion feature was valued at $ 200 30 230 555 355 355 246 309 0.027 0.04 0.009 0.025 1 0.94 0 0.10 158.55 167.36 On June 15, 2021, the holder converted $ 120 of principal into 4,761,905 shares of common stock valued at $ 238 . As a result of the conversion, $ 172 of derivative liability and $ 86 unamortized debt discount was settled and $ 32 was recorded as loss on settlement of debt. 0.0252 0.05 238.79 On July 27, 2021, the holder converted the remaining $ 110 of principal and $ 11 of accrued interest into 6,673,384 shares of common stock valued at $ 280 . As a result of this conversion, $ 153 of derivative liability and $ 66 unamortized debt discount was settled and $ 72 was recorded as loss on settlement of debt. The derivative value was calculated using a share fair value of $ 0.0182 0.05 127.04 MGT CAPITAL INVESTMENTS, INC. AND SUBSIDARY NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS (Dollars in thousands, except share and per–share amounts) March 2021 Note On March 5, 2021, the Company entered into a securities purchase agreement with Bucktown Capital, LLC (the “Investor”), pursuant to which the Company issued a convertible promissory note in the original principal amount of $ 13,210 70 0.04 8 twelve months The March 2021 Note was to be funded in tranches, with the initial tranche of $ 1,210 1,000 1,200 6,000 The Company determined that the embedded conversion feature of the convertible promissory note meets the definition of a beneficial conversion feature. The Company measured the beneficial conversion feature’s intrinsic value on March 5, 2021 and determined that the beneficial conversion feature was valued at $ 1,000 210 1,210 As a result of the Company failing to meet certain registration requirements under the March 2021 Note, the outstanding balance of the March 2021 Note was automatically increased by 5 % on each of July 5, 2021 and August 5, 2021, September 5, 2021 and as part of the exchange agreement an additional 5 % on September 30, 2021, prior to the exchange. An additional $ 270 was recorded as outstanding principal, bringing the outstanding balance prior to the exchange to $ 1,481 . On September 30, 2021, the Company entered into an exchange agreement with the March 2021 Note holder under which the outstanding principal balance of $ 1,481 and $ 60 of accrued interest were exchanged for 53,500,000 warrants to purchase common stock (See Note 7), which were treated as a warrant derivative liability. Upon the exchange, the Company settled $ 1,481 of outstanding principal, $ 60 of accrued interest, $ 758 of debt discount, recorded a warrant liability in the amount of $ 1,221 resulting in a loss on settlement of debt of $ 438 . The derivative was calculated using a share fair value of $ 0.025 0.98 remaining lives of 4.43 176.1 During the years ended December 31, 2021 and 2020, the Company recorded accretion of debt discount of $ 526 882 Derivative Liabilities The Company’s activity in its derivative liabilities was as follows for the year ended December 31, 2021: Schedule of Derivative Liability Activity Balance of derivative liability at January 1, 2020 $ - Transfer in due to issuance of convertible notes with embedded conversion provisions 555 Change in fair value of derivative liability (309 ) Balance of derivative liability at December 31, 2020 246 Transfer in due to issuance of warrants with embedded conversion features 2,492 Transfer out upon conversion of convertible notes and warrants with embedded conversion provisions (732 ) Change in fair value of warrant liability (955 ) Change in fair value of derivative liability 79 Balance of derivative liabilities at December 31, 2021 $ 1,130 On July 21, 2021, as part of a corporate fundraising, the Company issued 35,385,703 shares of common stock and 35,385,703 warrants to purchase common stock. As a result of this issuance, the Company recognized a derivative liability in the amount of $ 1,271 . The derivative was calculated using the fair value per share of $ 0.038 176.1 remaining lives of 5 0.74 As of December 31, 2021, the fair value of the warrant derivative liability was $ 1,130 955 0.017 0.05 4.2 4.6 0 1.26 175.5 Fluctuations in the Company’s stock price are a primary driver for the changes in the derivative valuations during each reporting period. As the stock price increases for each of the related derivative instruments, the value to the holder of the instrument generally increases, therefore increasing the liability on the Company’s balance sheet. Additionally, stock price volatility is one of the significant unobservable inputs used in the fair value measurement of each of the Company’s derivative instruments. The simulated fair value of these liabilities is sensitive to changes in the Company’s expected volatility. Increases in expected volatility would generally result in higher fair value measurement. A 10% change in pricing inputs and changes in volatilities and correlation factors would not result in a material change in our Level 3 fair value. Schedule of Derivative Liability Fair Value Level 1 Level 2 Level 3 Fair Value December 31, 2021 Level 1 Level 2 Level 3 Fair Value Liabilities Warrant derivative liability $ - $ - $ 1,130 $ 1,130 Level 1 Level 2 Level 3 Fair Value December 31, 2020 Level 1 Level 2 Level 3 Fair Value Liabilities Derivative liability $ - $ - $ 246 $ 246 MGT CAPITAL INVESTMENTS, INC. AND SUBSIDARY NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS (Dollars in thousands, except share and per–share amounts) The PPP Loan On April 16, 2020, the Company entered into a promissory note with Aquesta Bank for $ 111 1 6 Not more than 40% of the forgiven amount may be used for non-payroll costs On April 1, 2021, the Company received notice of forgiveness in the amount of $ 108 3 and has concluded that the PPP Loan represents, in substance, a government grant that is expected to be forgiven in its entirety. As such, in accordance with International Accounting Standards (“IAS”) 20, “Accounting for Government Grants and Disclosure of Government Assistance,” the Company has recognized the entire loan amount of $ 111

Leases

Leases	12 Months Ended
	Dec. 31, 2021
Leases
Leases	Note 8. Leases In December 2019, the Company entered a new office lease in connection with the relocation of its executive office to Raleigh, North Carolina. The Company accounted for its new office lease as an operating lease under the guidance of Topic 842. Rent expense under the new lease is $ 3 3 three 29.91 79 79 34 On November 1, 2021, the Company entered into a lease agreement to lease a contiguous portion of land to its existing property, as a planting area for trees intended to mitigate noise from the Company’s cryptocurrency mining operations. The agreement calls for yearly installments of $3 for the first five years, with an option to extend this lease for another five-year period at a rate not to exceed 105% of the current lease payment. On each anniversary date, the Company will pay $3 in advance, with payment for the first year paid upon execution of the lease 8.0 22 22 21 Total future minimum payments required under the lease agreements are as follows: Schedule of Future Minimum Lease Payment Amount 2022 $ 42 2023 3 2024 3 2025 3 2026 3 Thereafter 12 Total undiscounted minimum future lease payments $ 66 Less Imputed interest (14 ) Present value of operating lease liabilities $ 52 Disclosed as: Current portion $ 35 Non-current portion 17 The Company recorded rent expense of $ 37 36 MGT CAPITAL INVESTMENTS, INC. AND SUBSIDARY NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS (Dollars in thousands, except share and per–share amounts) At December 31, 2021, the weighted average interest rate for the operating lease was 21.88 4.2

Common Stock, Preferred Stock a

Common Stock, Preferred Stock and Warrants	12 Months Ended
	Dec. 31, 2021
Equity [Abstract]
Common Stock, Preferred Stock and Warrants	Note 9. Common Stock, Preferred Stock and Warrants Common stock Common Stock Issuances In connection with the conversion of 115 29,870,130 During the year ended December 31, 2021, in connection with the conversions of $ 120 and $ 110 , with accrued interest, of the December 2020 convertible note payable (see Note 7), the Company issued 4,761,905 and 6,673,384 shares of common stock, respectively. On July 21, 2021, as part of a corporate fundraising of $ 990 35,385,703 35,385,703 During the year ended December 31, 2021, 14,270,833 warrants with an embedded conversion feature were exercised on a cashless basis for the issuance of 23,500,000 shares of common stock (see below). Preferred Stock In January 2019, the Company’s Board of Directors approved the authorization of 10,000 0.001 100 12 Each holder shall also be entitled to vote on all matters submitted to stockholders of the Company and shall be entitled to 55,000 votes for each Series B Preferred Share owned at the record date for the determination of stockholders entitled to vote on such matter or, if no such record date is established, at the date such vote is taken or any written consent of stockholders is solicited In April 2019, the Company’s Board of Directors approved the authorization of 200 0.001 The holders of the Series C Preferred Shares have no voting rights, receive no dividends, and are entitled to a liquidation preference equal to the stated value. At any time, the Company may redeem the Series C Preferred Shares at 1.2 times the stated value Each Series C Preferred Share is convertible into shares of the Company’s common stock in an amount equal to the greater of: (a) 200,000 shares of common stock or (b) the amount derived by dividing the stated value by the product of 0.7 times the market price of the Company’s common stock The common shares issued upon conversion of the Series C Preferred Shares were registered under the Company’s then-effective registration statement on Form S-3. In April and July 2019, the Company sold 200 1,990 50 14,077,092 35 13,528,575 115 115 29,870,130 MGT CAPITAL INVESTMENTS, INC. AND SUBSIDARY NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS (Dollars in thousands, except share and per–share amounts) Warrants On July 21, 2021, as part of a corporate fundraising, the Company issued 35,385,703 shares of common stock and 35,385,703 warrants to purchase common stock for net cash proceeds of $ 990 1,271 which resulted in the recording of a warrant derivative liability in that amount. Non-operating expense of $ 306 was recorded in respect of the value warrant derivative liability of $ 1,271 990 On September 30, 2021, the Company exchanged the outstanding principal of $ 1,481 and accrued interest of $ 60 of the March 2021 Note for 53,500,000 warrants to purchase common stock (see Note 7). During the year ended December 31, 2021, 14,270,833 warrants were exercised on a cashless basis for the issuance of 23,500,000 shares of common stock. 406 23,500,000 635 228 The Company valued the warrant derivative liability using the Black-Scholes option pricing model using the following assumptions on the date of each exercise: 1) stock prices of $ 0.017 0.043 0.05 4.2 4.3 0 1.19 1.33 175.7 177.2 The following table summarizes information about shares issuable under warrants outstanding during the year ended December 31, 2021: Summary of Warrants Outstanding Warrant Weighted Weighted average remaining life Intrinsic value Outstanding at January 1, 2021 - - - - Issued 88,885,704 0.05 5.0 - Exercised (14,270,833 ) 0.05 - - Expired or cancelled - - - - Outstanding and exercisable at December 31, 2021 74,614,871 $ 0.05 4.47 $ -

Stock_Based Compensation

Stock–Based Compensation	12 Months Ended
	Dec. 31, 2021
Share-based Payment Arrangement [Abstract]
Stock–Based Compensation	Note 10. Stock–Based Compensation Issuance of restricted common stock – directors, officers and employees The Company’s activity in restricted common stock was as follows for the years ended December 31, 2021 and 2020: Schedule of Restricted Common Stock Activity Non-vested at January 1, 2020 650,000 $ 1.24 Granted - $ - Vested (616,667 ) $ 1.48 Non–vested at December 31, 2020 33,333 $ 0.04 Vested (33,333 ) $ 0.04 Non–vested at December 31, 2021 - $ - For the years ended December 31, 2021 and 2020, the Company has recorded $ 0 222 As of December 31, 2020, unamortized stock-based compensation costs related to restricted share arrangements was under $ 1 no Stock options As of December 31, 2019, the Company had 6,000,000 0.71 1.29 January 31, 2020 no

Commitments and Contingencies

Commitments and Contingencies	12 Months Ended
	Dec. 31, 2021
Commitments and Contingencies Disclosure [Abstract]
Commitments and Contingencies	Note 11. Commitments and Contingencies Bitcoin Production Equipment and Operations In August 2018, the Company entered a collaborative venture with Bit5ive, LLC to develop a fully contained crypto currency mining pod (the “POD5 Agreement”) for a term of five years. Pursuant to the POD5 Agreement, the Company assists with the design and development of the POD5 Containers. The Company retains naming rights to the pods and receives royalty payments from Bit5ive, LLC in exchange for providing capital as well as engineering and design expertise. During the years ended December 31, 2021 and 2020, the Company recognized non-operating income of $ 328 and $ 4 under this agreement, respectively. Electricity Contract In June 2019, the Company entered into a contract for electric power with the City of Lafayette, Georgia, a municipal corporation of the State of Georgia (“the City”). The Company makes monthly payments based upon electricity consumed, at a negotiated kilowatt per hour rate, inclusive of transmission charges and exclusive of state and local sales taxes. Over time, the Company is entitled to utilize a load of 10 megawatts. For each month, the Company estimates its expected electric load, and should the actual load drop below 90% of this estimate, the City reserves the right to impose a modest penalty to the hourly kilowatt rate for electricity consumed. In connection with this agreement, the Company paid a $ 154 120 outstanding invoices, leaving a zero balance on December 31, 2021. The electricity agreement expired on September 30, 2021, the Company and City are currently operating on a month-to-month basis. Management Agreement Termination Liability On August 31, 2019, the Company entered into two Settlement and Termination Agreements (the “Settlement Agreements”) to management agreements it entered in 2017 with two accredited investors (together the “Users”). Under the terms of the Settlement Agreements, the Company paid the Users a percentage of profits (“Settlement Distribution”) of Bitcoin mining as defined in the Settlement Agreements. The estimated present value of the Settlement Distributions of $ 337 26 90 0 Legal The Company has resolved all shareholder legal actions formerly pending in state and federal courts. On January 24, 2017, the Company was served with a summons and complaint filed by plaintiff shareholder Atul Ojha in New York state court against certain officers and directors of the Company and naming the Company as a nominal defendant. The lawsuit is styled as a derivative action (the “Ojha Derivative Action”) and was originally filed (but not served on any defendant) on October 15, 2016. The Ojha Derivative Action substantively alleges that the defendants, collectively or individually, inadequately managed the business and assets of the Company resulting in the deterioration of the Company’s financial condition. The Ojha Derivative Action asserts claims including, but not limited to, breach of fiduciary duties, unjust enrichment and waste of corporate assets. On December 12, 2018, a shareholder derivative action was filed by shareholder Bob Thomas against certain current and former directors, officers and shareholders of the Company, and naming the Company as a nominal defendant, in New York state court, alleging breach of fiduciary duties, unjust enrichment, abuse of control, gross mismanagement, and waste and seeking declaratory relief and damages (the “Thomas Derivative Action”). The underlying allegations in the Thomas Derivative Action largely repeat the allegations of wrongdoing in the 2018 Securities Class Actions (as defined below). MGT CAPITAL INVESTMENTS, INC. AND SUBSIDARY NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS (Dollars in thousands, except share and per–share amounts) On April 23, 2020, the Company entered into a stipulation of settlement (the “Stipulation”) in connection with the Ojha Derivative Action and the Thomas Derivative Action (together, the “State Derivative Actions”). The consideration for the settlement of the Derivative Actions is as follows: (i) adoption by the Company of certain corporate governance reforms, the terms of which are fully set forth in Exhibits A and B to the Stipulation; (ii) Robert B. Ladd, H. Robert Holmes, Michael Onghai, and Nolan Bushnell shall collectively pay or cause to be paid $75 to the Company; and (iii) Barry C. Honig, John Stetson, Michael Brauser, John O’Rourke III, and Mark Groussman shall collectively pay or cause to be paid $150 to the Company. Further, the Company shall, subject to court approval, pay a fee and expense award to plaintiffs’ counsel in the Derivative Actions of $150 and service awards to each of the two plaintiffs in the Derivative Actions of $1.5 each, to be paid from the fee and expense award Final approval of the settlement of the State Derivative Actions was granted on July 2, 2020. On August 28, 2019, a shareholder derivative action was filed by shareholder Tyler Tomczak against the certain directors, officers and shareholders of the Company, and naming the Company as a nominal defendant, in the United States District Court for the Southern District of New York, alleging breach of fiduciary duties, waste and unjust enrichment and seeking declaratory relief and damages (the “Tomczak Derivative Action”). The underlying allegations in the Tomczak Derivative Action largely repeat the allegations of wrongdoing in the 2018 Securities Class Actions. On September 11, 2019, a shareholder derivative action was filed by shareholder Arthur Aviles against certain directors, officers and shareholders of the Company, and naming the Company as a nominal defendant, in the United States District Court for the District of Delaware, alleging breach of fiduciary duties, waste and unjust enrichment and seeking declaratory relief and damages (the “Aviles Derivative Action”). The underlying allegations in the Aviles Derivative Action largely repeat the allegations of wrongdoing in the 2018 Securities Class Actions. On May 7, 2020, the Company entered into a stipulation of settlement (the “Federal Stipulation”) in connection with the Tomczak Derivative Action and the Aviles Derivative Action (together, the “Federal Derivative Actions”). The consideration for the settlement of the Federal Derivative Actions is as follows: (i) adoption by the Company of a certain corporate governance reform, the terms of which are fully set forth in Exhibit A to the Federal Stipulation; and (ii) Robert B. Ladd, H. Robert Holmes, and Michael Onghai shall collectively pay or cause to be paid $65 to the Company. Further, the Company shall, subject to court approval, pay a fee and expense award to plaintiffs’ counsel in the Federal Derivative Actions of $30 and incentive awards to each of the two plaintiffs in the Federal Derivative Actions of $0.4 each Final approval of the settlement of the Federal Derivative Actions was granted on August 5, 2020. For the year ended December 31, 2020, the Company recorded $ 119 In October 2019, the Company and its then officers and directors received subpoenas from the SEC requesting information, including but not limited to, with respect to risk factors contained in certain of the Company’s filings with the SEC. On October 21, 2020, the SEC notified the Company this investigation concluded, and it does not intend to recommend an enforcement action by the Commission against MGT in this matter. This notice was sent pursuant to guidelines set out in Securities Acts Release 5310, which states in part that the notice “must in no way be construed as indicating that the party has been exonerated or that no action may ultimately result from the Staff’s investigation.” In November 2018, the Company’s board received a shareholder demand letter dated November 6, 2018, from shareholders Nicholas Fulton and Kelsey Thacker (the “Fulton Demand”). The Fulton Demand referenced the SEC Action, and the allegations therein, and demanded that the board take action to investigate, address and remedy the allegations raised in the SEC Action. Shortly after the New York state court entered the order preliminarily approving the stipulation of settlement in connection with the Ojha Derivative Action and the Thomas Derivative Action, counsel for the Company informed counsel for shareholders Nicholas Fulton and Kelsey Thacker of that stipulation of settlement and of counsel for the Company’s view that the releases in the settlement covered the matters raised in the Fulton Demand. MGT CAPITAL INVESTMENTS, INC. AND SUBSIDARY NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS (Dollars in thousands, except share and per–share amounts) Settlement of Class Action In September 2018 and October 2018, various shareholders of the Company filed putative class action lawsuits against the Company, its Chief Executive Officer and certain of its individual officers and shareholders, alleging violations of federal securities laws and seeking damages (the “2018 Securities Class Actions”). The 2018 Securities Class Action followed and referenced the allegations made against the Company’s Chief Executive Officer and others in the SEC Action. The first putative class action lawsuit was filed on September 28, 2018, in the United States District Court for the District of New Jersey, and alleges that the named defendants engaged in a pump-and-dump scheme to artificially inflate the price of the Company’s stock and that, as a result, defendants’ statements about the Company’s business and prospects were materially false and misleading and/or lacked a reasonable basis at relevant times. The second putative class action was filed on October 9, 2018, in the United States District Court for the Southern District of New York and makes similar allegations. On May 28, 2019, the parties to the 2018 Securities Class Actions entered into a binding settlement term sheet, and on September 24, 2019, the parties entered into a stipulation of settlement. On August 7, 2019, the lead plaintiff in the first class action filed a notice and order of voluntary dismissal with prejudice, and on October 11, 2019, the lead plaintiff in the second class action filed in the federal court in New York an unopposed motion for preliminary approval of the proposed class action settlement. On December 17, 2019, the court issued an order granting preliminary approval of the settlement. Final approval of the settlement of the 2018 Securities Class Actions was granted on May 27, 2020. The plaintiff shareholder class received $ 750

Income Taxes

Income Taxes	12 Months Ended
	Dec. 31, 2021
Income Tax Disclosure [Abstract]
Income Taxes	Note 12. Income Taxes Significant components of deferred tax assets were as follows: Schedule of Components of Deferred Tax Assets 2021 2020 As of December 31, 2021 2020 U.S. federal tax loss carry–forward $ 17,749 $ 17,426 U.S. State tax loss carry–forward 298 183 Equity based compensation 8,289 7,704 Fixed assets, intangible assets and goodwill 6 49 Accruals 9 - Long-term investments (6 ) (6 ) Total deferred tax assets 26,344 25,357 Less: valuation allowance (26,344 ) (25,357 ) Net deferred tax asset $ — $ — As of December 31, 2021, the Company had the following tax attributes: Summary of Operating Loss Carryforwards Amount Begins to U.S. federal net operating loss carry–forwards $ 84,519 Fiscal 2023 U.S. State net operating loss carry–forwards - Georgia 3,061 unlimited U.S. State net operating loss carry–forwards – North Carolina 8,031 Fiscal 2031 The reconciliation of income tax expense computed at the U.S. federal statutory rate to the income tax provision for the years ended December 31, 2021 and 2020 is as follows: Schedule of Effective Income Tax Rate Reconciliation 2021 2020 As of December 31, 2021 2020 Expected Federal Tax -21.0 % -21.0 % State income taxes (net of federal benefit) -1.7 % -0.9 % Permanent adjustments -2.0 % 4.8 % True up of prior year deferred tax assets 4.7 % -38.5 % Change in state tax rate -48.3 % 0.0 % Other 0.0 % 0.1 % Change in valuation allowance 64.32 % 55.5 % Effective tax rate 0.0 % 0.0 % MGT CAPITAL INVESTMENTS, INC. AND SUBSIDARY NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS (Dollars in thousands, except share and per–share amounts) As it is not more likely than not that the resulting deferred tax benefits will be realized, a full valuation allowance has been recognized for such deferred tax assets. For the year ended December 31, 2021, the valuation allowance increased by $987,449. Federal and state laws impose substantial restrictions on the utilization of tax attributes in the event of an “ownership change,” as defined in Section 382 of the Internal Revenue Code. As of December 31, 2021, the Company performed a high-level review of its changes in ownership and determined that a change of control event likely occurred under Section 382 of the Internal Revenue Code and the Company’s net operating loss carryforwards are likely to be limited. The Company has adopted the provisions of ASC 740-10-25, which provides recognition criteria and a related measurement model for uncertain tax positions taken or expected to be taken in income tax returns. ASC 740-10-25 requires that a position taken or expected to be taken in a tax return be recognized in the financial statements when it is more likely than not that the position would be sustained upon examination by tax authorities. Tax positions that meet the more likely than not threshold are then measured using a probability weighted approach recognizing the largest amount of tax benefit that is greater than 50% likely of being realized upon ultimate settlement. The Company had no tax positions relating to open income tax returns that were considered to be uncertain. The Company files income tax returns in the U.S. federal jurisdiction, North Carolina and Georgia jurisdictions. With few exceptions, the Company is no longer subject to U.S. federal, state and local, or non–U.S. income tax examinations by tax authorities for years before 2015.

Employee Benefit Plans

Employee Benefit Plans	12 Months Ended
	Dec. 31, 2021
Retirement Benefits [Abstract]
Employee Benefit Plans	Note 13. Employee Benefit Plans The Company maintains defined contribution benefit plans under Section 401(k) of the Internal Revenue Code covering substantially all qualified employees of the Company (the “401(k) Plan”). Under the 401(k) Plan, the Company may make discretionary contributions of up to 100 10 11

Subsequent Events

Subsequent Events	12 Months Ended
	Dec. 31, 2021
Subsequent Events [Abstract]
Subsequent Events	Note 14. Subsequent Events From January 1, 2022 through March 31, 2022, a total of 11,197,930 warrants were exercised for the issuance of 34,000,000 shares of common stock.

Summary of Significant Accoun_2

Summary of Significant Accounting Policies (Policies)	12 Months Ended
	Dec. 31, 2021
Accounting Policies [Abstract]
Principles of consolidation	Principles of consolidation The consolidated financial statements include the accounts of MGT and MGT Sweden AB. All intercompany transactions and balances have been eliminated. MGT CAPITAL INVESTMENTS, INC. AND SUBSIDARY NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS (Dollars in thousands, except share and per–share amounts)
Use of estimates and assumptions and critical accounting estimates and assumptions	Use of estimates and assumptions and critical accounting estimates and assumptions The preparation of financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and the disclosure of contingent assets and liabilities as of the date of the financial statements, and also affect the amounts of revenues and expenses reported for each period. Actual results could differ from those which result from using such estimates. Management utilizes various other estimates, including but not limited to determining the estimated lives of long-lived assets, stock compensation, determining the potential impairment of long-lived assets, the fair value of warrants issued, the fair value of conversion features, the recognition of revenue, the valuation allowance for deferred tax assets and other legal claims and contingencies. The results of any changes in accounting estimates are reflected in the financial statements in the period in which the changes become evident. Estimates and assumptions are reviewed periodically, and the effects of revisions are reflected in the period that they are determined to be necessary.
Cash and cash equivalents	Cash and cash equivalents The Company considers all highly liquid instruments with an original maturity of three months or less when acquired to be cash equivalents. The Company’s combined accounts were $ 1,230 236 250 980 0
Accounts Receivable	Accounts Receivable Accounts receivable are generally unsecured. The Company establishes an allowance for doubtful accounts receivable based on the age of outstanding invoices and management’s evaluation of collectability. Accounts are written off after all reasonable collection efforts have been exhausted and management concludes that likelihood of collection is remote. Any future recoveries are applied against the allowance for doubtful accounts. As of December 31, 2021 and December 31, 2020, we did not believe we needed to reserve for any doubtful accounts, respectively.
Cryptocurrencies	Cryptocurrencies Cryptocurrencies, (including bitcoin and bitcoin cash) are included in current assets in the accompanying consolidated balance sheets. Any cryptocurrencies purchased are recorded at cost and cryptocurrencies awarded to the Company through its mining activities are accounted for in connection with the Company’s revenue recognition policy disclosed in this note. Cryptocurrencies held are accounted for as intangible assets with indefinite useful lives. An intangible asset with an indefinite useful life is not amortized but assessed for impairment annually, or more frequently, when events or changes in circumstances occur indicating that it is more likely than not that the indefinite-lived asset is impaired. Impairment exists when the carrying amount exceeds its fair value, which is measured using the quoted price of the cryptocurrency at the time its fair value is being measured. In testing for impairment, the Company has the option to first perform a qualitative assessment to determine whether it is more likely than not that an impairment exists. If it is determined that it is not more likely than not that an impairment exists, a quantitative impairment test is not necessary. If the Company concludes otherwise, it is required to perform a quantitative impairment test. To the extent an impairment loss is recognized, the loss establishes the new cost basis of the asset. Subsequent reversal of impairment losses is not permitted. Any purchases of cryptocurrencies by the Company are included within investing activities in the accompanying consolidated statements of cash flows, while cryptocurrencies awarded to the Company through its mining activities are included within operating activities on the accompanying consolidated statements of cash flows. The sales of cryptocurrencies are included within investing activities in the accompanying consolidated statements of cash flows and any realized gains or losses from such sales are included in other income (expense) in the consolidated statements of operations. The Company accounts for its gains or losses in accordance with the first in first out (FIFO) method of accounting. Halving – The Bitcoin blockchain and the cryptocurrency reward for solving a block is subject to periodic incremental halving. Halving is a process designed to control the overall supply and reduce the risk of inflation in cryptocurrencies using a Proof-of-Work consensus algorithm. At a predetermined block, the mining reward is cut in half, hence the term “Halving.” A Halving for bitcoin occurred on May 12, 2020. Many factors influence the price of Bitcoin and potential increases or decreases in prices in advance of or following a future halving is unknown. MGT CAPITAL INVESTMENTS, INC. AND SUBSIDARY NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS (Dollars in thousands, except share and per–share amounts) The following table presents the activities of digital currencies for the years ended December 31, 2021 and 2020: Schedule of Digital Currencies Digital currencies at January 1, 2020 $ 18 Additions of digital currencies from mining 1,434 Additions of digital currencies from the sale of property and equipment 53 Payment of digital currencies to management partners (90 ) Realized gain on sale of digital currencies 29 Net realizable value adjustment (2 ) Sale of digital currencies (1,438 ) Digital currencies at December 31, 2020 4 Additions of digital currencies from mining 686 Realized gain on sale of digital currencies 1 Sale of digital currencies (691 ) Digital currencies at December 31, 2021 $ -
Investment – Available for sale	Investment – Available for sale Available-for-sale securities are carried at fair value. Unrealized gains and losses are included in accumulated other comprehensive income within the equity section of the balance sheet. Realized gains and losses, if any, are calculated on the specific identification method and are included in other income in the consolidated statements of operations.
Property and Equipment	Property and Equipment Property and equipment are stated at cost less accumulated depreciation. Depreciation is calculated using the straight–line method on the various asset classes over their estimated useful lives, which range from one to ten years when placed in service. The cost of repairs and maintenance is expensed as incurred; major replacements and improvements are capitalized. When assets are retired or disposed of, the cost and accumulated depreciation are removed from the accounts, and any resulting gains or losses are included in income in the year of disposition. Deposits on property and equipment are initially classified as Other Assets and upon delivery, installation and full payment, the assets are classified as property and equipment on the consolidated balance sheet.
Segment Reporting	Segment Reporting Operating segments are defined as components of an enterprise about which separate financial information is available that is evaluated regularly as the company reviews financial information. The Company currently operates in the Digital Currency Blockchain segment with our mining facility located in the United States. The Company also provides hosting services which are also located in the United States. The Company has employees only in the United States and views its operations as one operating segment as management reviews financial information on a consolidated basis in making decisions regarding resource allocations and assessing performance.
Leases	Leases The Company accounts for its leases under ASC 842, Leases. Under this guidance, arrangements meeting the definition of a lease are classified as operating or financing leases and are recorded on the consolidated balance sheet as both a right of use asset and lease liability, calculated by discounting fixed lease payments over the lease term at the rate implicit in the lease or the Company’s incremental borrowing rate. Lease liabilities are increased by interest and reduced by payments each period, and the right of use asset is amortized over the lease term. For operating leases, interest on the lease liability and the amortization of the right of use asset result in straight-line rent expense over the lease term. Variable lease expenses, if any, are recorded when incurred.
Derivative Instruments	Derivative Instruments Derivative financial instruments are recorded in the accompanying consolidated balance sheets at fair value in accordance with ASC 815. When the Company enters into a financial instrument such as a debt or equity agreement (the “host contract”), the Company assesses whether the economic characteristics of any embedded features are clearly and closely related to the primary economic characteristics of the remainder of the host contract. When it is determined that (i) an embedded feature possesses economic characteristics that are not clearly and closely related to the primary economic characteristics of the host contract, and (ii) a separate, stand-alone instrument with the same terms would meet the definition of a financial derivative instrument, then the embedded feature is bifurcated from the host contract and accounted for as a derivative instrument. The estimated fair value of the derivative feature is recorded in the accompanying consolidated balance sheets separately from the carrying value of the host contract. Subsequent changes in the estimated fair value of derivatives are recorded as a gain or loss in the Company’s consolidated statements of operations.
Revenue recognition	Revenue recognition Cryptocurrency mining MGT CAPITAL INVESTMENTS, INC. AND SUBSIDARY NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS (Dollars in thousands, except share and per–share amounts) The Company recognizes revenue under Accounting Standards Codification (“ASC”) 606, Revenue from Contracts with Customers, (“ASC 606”). The core principle of the revenue standard is that a company should recognize revenue to depict the transfer of promised goods or services to customers in an amount that reflects the consideration to which the Company expects to be entitled in exchange for those goods or services. The following five steps are applied to achieve that core principle: ● Step 1: Identify the contract with the customer ● Step 2: Identify the performance obligations in the contract  ● Step 3: Determine the transaction price   ● Step 4: Allocate the transaction price to the performance obligations in the contract   ● Step 5: Recognize revenue when the Company satisfies a performance obligation   In order to identify the performance obligations in a contract with a customer, a company must assess the promised goods or services in the contract and identify each promised good or service that is distinct. A performance obligation meets ASC 606’s definition of a “distinct” good or service (or bundle of goods or services) if both of the following criteria are met: The customer can benefit from the good or service either on its own or together with other resources that are readily available to the customer (i.e., the good or service is capable of being distinct), and the entity’s promise to transfer the good or service to the customer is separately identifiable from other promises in the contract (i.e., the promise to transfer the good or service is distinct within the context of the contract). If a good or service is not distinct, the good or service is combined with other promised goods or services until a bundle of goods or services is identified that is distinct. The transaction price is the amount of consideration to which an entity expects to be entitled in exchange for transferring promised goods or services to a customer. The consideration promised in a contract with a customer may include fixed amounts, variable amounts, or both. When determining the transaction price, an entity must consider the effects of all of the following: ● Variable consideration   ● Constraining estimates of variable consideration   ● The existence of a significant financing component in the contract   ● Noncash consideration   ● Consideration payable to a customer   Variable consideration is included in the transaction price only to the extent that it is probable that a significant reversal in the amount of cumulative revenue recognized will not occur when the uncertainty associated with the variable consideration is subsequently resolved. The transaction price is allocated to each performance obligation on a relative standalone selling price basis. The transaction price allocated to each performance obligation is recognized when that performance obligation is satisfied, at a point in time or over time as appropriate. The Company has entered into digital asset mining pools by agreeing to terms and conditions, as amended from time to time, with the mining pool operators to provide computing power to the mining pool. The agreements are terminable at any time by either party and the Company’s enforceable right to compensation only begins when the Company provides computing power to the mining pool operator. In exchange for providing computing power, the Company is entitled to a fractional share of the fixed cryptocurrency award the mining pool operator receives (less digital asset transaction fees to the mining pool operator which are recorded as a component of cost of revenues), for successfully adding a block to the blockchain. The terms of the agreement provide that neither party can dispute settlement terms after thirty-five days following settlement. The Company’s fractional share is based on the proportion of computing power the Company contributed to the mining pool operator to the total computing power contributed by all mining pool participants in solving the current algorithm. Providing computing power to solve complex cryptographic algorithms in support of the Bitcoin blockchain (in a process known as “solving a block”) is an output of the Company’s ordinary activities. The provision of providing such computing power is the only performance obligation in the Company’s contracts with mining pool operators. The transaction consideration the Company receives, if any, is noncash consideration, which the Company measures at fair value on the date received, which is not materially different than the fair value at contract inception or the time the Company has earned the award from the pools. The consideration is all variable. Because it is not probable that a significant reversal of cumulative revenue will not occur, the consideration is constrained until the mining pool operator successfully places a block (by being the first to solve an algorithm) and the Company receives confirmation of the consideration it will receive, at which time revenue is recognized. There is no significant financing component in these transactions. MGT CAPITAL INVESTMENTS, INC. AND SUBSIDARY NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS (Dollars in thousands, except share and per–share amounts) Fair value of the cryptocurrency award received is determined using the quoted price of the related cryptocurrency at the time of receipt. There is currently no specific definitive guidance under GAAP or alternative accounting framework for the accounting for cryptocurrencies recognized as revenue or held, and management has exercised significant judgment in determining the appropriate accounting treatment. In the event authoritative guidance is enacted by the Financial Accounting Standards Board (“FASB”), the Company may be required to change its policies, which could have an effect on the Company’s consolidated financial position and results from operations. Other Revenues We receive revenues from third parties renting capacity at our facility and from hosting miners owned by others. The Company recognized $ 197 0
Stock–based compensation	Stock–based compensation The Company applies ASC 718-10, “Share- Based Payment,” which requires the measurement and recognition of compensation expenses for all share-based payment awards made to employees and directors including employee stock options under the Company’s stock plans and equity awards issued to non-employees based on estimated fair values. ASC 718-10 requires companies to estimate the fair value of equity-based option awards on the date of grant using an option-pricing model. The fair value of the award is recognized as an expense on a straight-line basis over the requisite service periods in the Company’s consolidated statements of comprehensive loss. Restricted stock awards are granted at the discretion of the compensation committee of the board of directors of the Company (the “Board”). These awards are restricted as to the transfer of ownership and generally vest over the requisite service periods, typically over a 12 24 The fair value of an option award is estimated on the date of grant using the Black–Scholes option valuation model. The Black–Scholes option valuation model requires the development of assumptions that are inputs into the model. These assumptions are the expected stock volatility, the risk–free interest rate, the expected life of the option, the dividend yield on the underlying stock and the expected forfeiture rate. Expected volatility is calculated based on the historical volatility of the Company’s common stock over the expected term of the option. Risk–free interest rates are calculated based on continuously compounded risk–free rates for the appropriate term. Determining the appropriate fair value model and calculating the fair value of equity–based payment awards require the input of the subjective assumptions described above. The assumptions used in calculating the fair value of equity–based payment awards represent management’s best estimates, which involve inherent uncertainties and the application of management’s judgment. The Company is required to estimate the expected forfeiture rate and recognize expense only for those shares expected to vest.
Gain (Loss) on Modification/Extinguishment of Debt	Gain (Loss) on Modification/Extinguishment of Debt In accordance with ASC 470, a modification or an exchange of debt instruments that adds or eliminates a conversion option that was substantive at the date of the modification or exchange is considered a substantive change and is measured and accounted for as extinguishment of the original instrument along with the recognition of a gain or loss. Additionally, under ASC 470, a substantive modification of a debt instrument is deemed to have been accomplished with debt instruments that are substantially different if the present value of the cash flows under the terms of the new debt instrument is at least 10 percent different from the present value of the remaining cash flows under the terms of the original instrument. A substantive modification is accounted for as an extinguishment of the original instrument along with the recognition of a gain or loss. MGT CAPITAL INVESTMENTS, INC. AND SUBSIDARY NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS (Dollars in thousands, except share and per–share amounts)
Impairment of long-lived assets	Impairment of long-lived assets Long-lived assets are reviewed for impairment whenever facts or circumstances either internally or externally may suggest that the carrying value of an asset may not be recoverable, should there be an indication of impairment, we test for recoverability by comparing the estimated undiscounted future cash flows expected to result from the use of the asset to the carrying amount of the asset or asset group. Any excess of the carrying value of the asset or asset group over its estimated fair value is recognized as an impairment loss.
Income taxes	Income taxes The Company accounts for income taxes in accordance with ASC 740, “Income Taxes”. ASC 740 requires an asset and liability approach for financial accounting and reporting for income taxes and established for all the entities a minimum threshold for financial statement recognition of the benefit of tax positions and requires certain expanded disclosures. The provision for income taxes is based upon income or loss after adjustment for those permanent items that are not considered in the determination of taxable income. Deferred income taxes represent the tax effects of differences between the financial reporting and tax basis of the Company’s assets and liabilities at the enacted tax rates in effect for the years in which the differences are expected to reverse. The Company evaluates the recoverability of deferred tax assets and establishes a valuation allowance when it is more likely than not that some portion or all the deferred tax assets will not be realized. Management makes judgments as to the interpretation of the tax laws that might be challenged upon an audit and cause changes to previous estimates of tax liability. In management’s opinion, adequate provisions for income taxes have been made. If actual taxable income by tax jurisdiction varies from estimates, additional allowances or reversals of reserves may be necessary.
Loss per share	Loss per share Basic loss per share is calculated by dividing net loss applicable to common shareholders by the weighted average number of common shares outstanding during the period. Diluted loss per share is calculated by dividing the net loss attributable to common shareholders by the sum of the weighted average number of common shares outstanding plus potential dilutive common shares outstanding during the period. Potential dilutive securities, comprised of unvested restricted shares, convertible debt stock warrants, stock options, convertible debt and convertible preferred stock are not reflected in diluted net loss per share because such potential shares are anti–dilutive due to the Company’s net loss. Accordingly, the computation of diluted loss per share for the year ended December 31, 2021 excludes 74,614,871 33,333 9,173,651 45,634,921
Fair Value Measure and Disclosures	Fair Value Measure and Disclosures ASC 820 “Fair Value Measurements and Disclosures” provides the framework for measuring fair value. That framework provides a fair value hierarchy that prioritizes the inputs to valuation techniques used to measure fair value. The hierarchy gives the highest priority to unadjusted quoted prices in active markets for identical assets or liabilities (Level 1 measurements) and the lowest priority to unobservable inputs (Level 3 measurements). Fair value is defined as an exit price, representing the amount that would be received upon the sale of an asset or payment to transfer a liability in an orderly transaction between market participants. Fair value is a market-based measurement that is determined based on assumptions that market participants would use in pricing an asset or liability. A three-tier fair value hierarchy is used to prioritize the inputs in measuring fair value as follows: ● Level 1 Quoted prices in active markets for identical assets or liabilities. ● Level 2 Quoted prices for similar assets or liabilities in active markets, quoted prices for identical or similar assets or liabilities in markets that are not active, or other inputs that are observable, either directly or indirectly. ● Level 3 Significant unobservable inputs that cannot be corroborated by market data. As of December 31, 2021, the Company had a Level 3 financial instrument related to the warrant derivative liability. As of December 31, 2020, the Company had a Level 3 financial instrument related to the derivative liability. MGT CAPITAL INVESTMENTS, INC. AND SUBSIDARY NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS (Dollars in thousands, except share and per–share amounts)
Management’s evaluation of subsequent events	Management’s evaluation of subsequent events The Company evaluates events that have occurred after the balance sheet date but before the financial statements are issued. Based upon the review, other than what is described in Note 14 – Subsequent Events, the Company did not identify any recognized or non-recognized subsequent events that would have required adjustment or disclosure in the consolidated financial statements.
Reclassification	Reclassification Certain prior years balances have been reclassified to conform to current year presentation.
Recent accounting pronouncements	Recent accounting pronouncements Management does not believe that any recently issued, but not yet effective accounting pronouncements, when adopted, will have a material effect on the accompanying consolidated financial statements, other than those disclosed below. In August 2020, the FASB issued Accounting Standards Update (“ASU”) 2020-06, “Debt – Debt with Conversion and Other Options (Subtopic 470-20) and Derivatives and Hedging – Contracts in Entity’s Own Equity (Subtopic 815 – 40)” (“ASU 2020-06”). ASU 2020-06 simplifies the accounting for certain financial instruments with characteristics of liabilities and equity, including convertible instruments and contracts on an entity’s own equity. The ASU is part of the FASB’s simplification initiative, which aims to reduce unnecessary complexity in U.S. GAAP. The ASU’s amendments are effective for fiscal years beginning after December 15, 2023, and interim periods within those fiscal years. The Company is currently evaluating the impact ASU 2020-06 will have on its financial statements.

Summary of Significant Accoun_3

Summary of Significant Accounting Policies (Tables)	12 Months Ended
	Dec. 31, 2021
Accounting Policies [Abstract]
Schedule of Digital Currencies	The following table presents the activities of digital currencies for the years ended December 31, 2021 and 2020: Schedule of Digital Currencies Digital currencies at January 1, 2020 $ 18 Additions of digital currencies from mining 1,434 Additions of digital currencies from the sale of property and equipment 53 Payment of digital currencies to management partners (90 ) Realized gain on sale of digital currencies 29 Net realizable value adjustment (2 ) Sale of digital currencies (1,438 ) Digital currencies at December 31, 2020 4 Additions of digital currencies from mining 686 Realized gain on sale of digital currencies 1 Sale of digital currencies (691 ) Digital currencies at December 31, 2021 $ -

Property and Equipment and Ot_2

Property and Equipment and Other Assets (Tables)	12 Months Ended
	Dec. 31, 2021
Property, Plant and Equipment [Abstract]
Schedule of Property and Equipment	Property and equipment consisted of the following: Schedule of Property and Equipment As of December 31, 2021 December 31, 2020 Land $ 55 $ 57 Computer hardware and software 10 10 Bitcoin mining machines 910 1,206 Infrastructure 1,117 905 Containers 403 550 Leasehold improvements 4 4 Property and equipment, gross 2,499 2,732 Less: Accumulated depreciation (1,270 ) (860 ) Property and equipment, net $ 1,229 $ 1,872
Schedule of Other Assets	Other assets consisted of the following: Schedule of Other Assets As of December 31, 2021 December 31, 2020 Security deposits 3 123 Other Assets $ 3 $ 123

Notes Payable (Tables)

Notes Payable (Tables)	12 Months Ended
	Dec. 31, 2021
Debt Disclosure [Abstract]
Schedule of Derivative Liability Activity	The Company’s activity in its derivative liabilities was as follows for the year ended December 31, 2021: Schedule of Derivative Liability Activity Balance of derivative liability at January 1, 2020 $ - Transfer in due to issuance of convertible notes with embedded conversion provisions 555 Change in fair value of derivative liability (309 ) Balance of derivative liability at December 31, 2020 246 Transfer in due to issuance of warrants with embedded conversion features 2,492 Transfer out upon conversion of convertible notes and warrants with embedded conversion provisions (732 ) Change in fair value of warrant liability (955 ) Change in fair value of derivative liability 79 Balance of derivative liabilities at December 31, 2021 $ 1,130
Schedule of Derivative Liability Fair Value	Schedule of Derivative Liability Fair Value Level 1 Level 2 Level 3 Fair Value December 31, 2021 Level 1 Level 2 Level 3 Fair Value Liabilities Warrant derivative liability $ - $ - $ 1,130 $ 1,130 Level 1 Level 2 Level 3 Fair Value December 31, 2020 Level 1 Level 2 Level 3 Fair Value Liabilities Derivative liability $ - $ - $ 246 $ 246

Leases (Tables)

Leases (Tables)	12 Months Ended
	Dec. 31, 2021
Leases
Schedule of Future Minimum Lease Payment	Total future minimum payments required under the lease agreements are as follows: Schedule of Future Minimum Lease Payment Amount 2022 $ 42 2023 3 2024 3 2025 3 2026 3 Thereafter 12 Total undiscounted minimum future lease payments $ 66 Less Imputed interest (14 ) Present value of operating lease liabilities $ 52 Disclosed as: Current portion $ 35 Non-current portion 17

Common Stock, Preferred Stock_2

Common Stock, Preferred Stock and Warrants (Tables)	12 Months Ended
	Dec. 31, 2021
Equity [Abstract]
Summary of Warrants Outstanding	The following table summarizes information about shares issuable under warrants outstanding during the year ended December 31, 2021: Summary of Warrants Outstanding Warrant Weighted Weighted average remaining life Intrinsic value Outstanding at January 1, 2021 - - - - Issued 88,885,704 0.05 5.0 - Exercised (14,270,833 ) 0.05 - - Expired or cancelled - - - - Outstanding and exercisable at December 31, 2021 74,614,871 $ 0.05 4.47 $ -

Stock_Based Compensation (Table

Stock–Based Compensation (Tables)	12 Months Ended
	Dec. 31, 2021
Share-based Payment Arrangement [Abstract]
Schedule of Restricted Common Stock Activity	The Company’s activity in restricted common stock was as follows for the years ended December 31, 2021 and 2020: Schedule of Restricted Common Stock Activity Non-vested at January 1, 2020 650,000 $ 1.24 Granted - $ - Vested (616,667 ) $ 1.48 Non–vested at December 31, 2020 33,333 $ 0.04 Vested (33,333 ) $ 0.04 Non–vested at December 31, 2021 - $ -

Income Taxes (Tables)

Income Taxes (Tables)	12 Months Ended
	Dec. 31, 2021
Income Tax Disclosure [Abstract]
Schedule of Components of Deferred Tax Assets	Significant components of deferred tax assets were as follows: Schedule of Components of Deferred Tax Assets 2021 2020 As of December 31, 2021 2020 U.S. federal tax loss carry–forward $ 17,749 $ 17,426 U.S. State tax loss carry–forward 298 183 Equity based compensation 8,289 7,704 Fixed assets, intangible assets and goodwill 6 49 Accruals 9 - Long-term investments (6 ) (6 ) Total deferred tax assets 26,344 25,357 Less: valuation allowance (26,344 ) (25,357 ) Net deferred tax asset $ — $ —
Summary of Operating Loss Carryforwards	As of December 31, 2021, the Company had the following tax attributes: Summary of Operating Loss Carryforwards Amount Begins to U.S. federal net operating loss carry–forwards $ 84,519 Fiscal 2023 U.S. State net operating loss carry–forwards - Georgia 3,061 unlimited U.S. State net operating loss carry–forwards – North Carolina 8,031 Fiscal 2031
Schedule of Effective Income Tax Rate Reconciliation	The reconciliation of income tax expense computed at the U.S. federal statutory rate to the income tax provision for the years ended December 31, 2021 and 2020 is as follows: Schedule of Effective Income Tax Rate Reconciliation 2021 2020 As of December 31, 2021 2020 Expected Federal Tax -21.0 % -21.0 % State income taxes (net of federal benefit) -1.7 % -0.9 % Permanent adjustments -2.0 % 4.8 % True up of prior year deferred tax assets 4.7 % -38.5 % Change in state tax rate -48.3 % 0.0 % Other 0.0 % 0.1 % Change in valuation allowance 64.32 % 55.5 % Effective tax rate 0.0 % 0.0 %

Organization and Basis of Pre_2

Organization and Basis of Presentation (Details Narrative) $ in Thousands	12 Months Ended
	Dec. 31, 2021USD ($)
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Payments for Previous Acquisition	$ 2,768
Payments for (Proceeds from) Previous Acquisition	$ 869

Going Concern and Management__2

Going Concern and Management’s Plans (Details Narrative) - USD ($) $ in Thousands	Dec. 31, 2021	Dec. 31, 2020
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Accumulated deficit	$ 419,928	$ 418,389
Cash and cash equivalents	$ 1,230	$ 236

Schedule of Digital Currencies

Schedule of Digital Currencies (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020
Accounting Policies [Abstract]
Digital currencies, Ending balance	$ 4	$ 18
Additions of digital currencies from mining	686	1,434
Additions of digital currencies from the sale of property and equipment		53
Payment of digital currencies to management partners		(90)
Realized gain on sale of digital currencies	1	29
Net realizable value adjustment		(2)
Sale of digital currencies	(691)	(1,438)
Digital currencies, Ending balance		$ 4

Summary of Significant Accoun_4

Summary of Significant Accounting Policies (Details Narrative) - USD ($)	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020
Property, Plant and Equipment [Line Items]
Cash and cash equivalents	$ 1,230,000	$ 236,000
Cash, FDIC insured amount	$ 980,000	0
Antidilutive Securities Excluded from Computation of Earnings Per Share, Amount	74,614,871
Unvested Restricted Stock [Member]
Property, Plant and Equipment [Line Items]
Antidilutive Securities Excluded from Computation of Earnings Per Share, Amount	33,333
Conversion Of Convertible Debt [Member]
Property, Plant and Equipment [Line Items]
Antidilutive Securities Excluded from Computation of Earnings Per Share, Amount	9,173,651
Convertible Preferred Stock [Member]
Property, Plant and Equipment [Line Items]
Antidilutive Securities Excluded from Computation of Earnings Per Share, Amount	45,634,921
Hosting Miners [Member]
Property, Plant and Equipment [Line Items]
Revenues	$ 197	$ 0
Maximum [Member]
Property, Plant and Equipment [Line Items]
Cash, FDIC insured amount	$ 250,000
Property, Plant and Equipment, Estimated Useful Lives	ten
Restricted stock awards vested period	24 months
Minimum [Member]
Property, Plant and Equipment [Line Items]
Property, Plant and Equipment, Estimated Useful Lives	one
Restricted stock awards vested period	12 months

Accounts receivable (Details Na

Accounts receivable (Details Narrative) - USD ($) $ in Thousands	Dec. 31, 2021	Dec. 31, 2020
Receivables [Abstract]
Accounts receivable, net	$ 180

Schedule of Property and Equipm

Schedule of Property and Equipment (Details) - USD ($) $ in Thousands	Dec. 31, 2021	Dec. 31, 2020
Property, Plant and Equipment [Line Items]
Property and equipment, gross	$ 2,499	$ 2,732
Less: Accumulated depreciation	(1,270)	(860)
Property and equipment, net	1,229	1,872
Land [Member]
Property, Plant and Equipment [Line Items]
Property and equipment, gross	55	57
Computer Equipment [Member]
Property, Plant and Equipment [Line Items]
Property and equipment, gross	10	10
Bitcoin Mining Machines [Member]
Property, Plant and Equipment [Line Items]
Property and equipment, gross	910	1,206
Infrastructures [Member]
Property, Plant and Equipment [Line Items]
Property and equipment, gross	1,117	905
Containers [Member]
Property, Plant and Equipment [Line Items]
Property and equipment, gross	403	550
Leasehold Improvements [Member]
Property, Plant and Equipment [Line Items]
Property and equipment, gross	$ 4	$ 4

Schedule of Other Assets (Detai

Schedule of Other Assets (Details) - USD ($) $ in Thousands	Dec. 31, 2021	Dec. 31, 2020
Property, Plant and Equipment [Abstract]
Security deposits	$ 3	$ 123
Other Assets	$ 3	$ 123

Property and Equipment and Ot_3

Property and Equipment and Other Assets (Details Narrative) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020
Collaborative Arrangement and Arrangement Other than Collaborative [Line Items]
Depreciation expense	$ 675	$ 1,102
Gain (loss) on disposition of property plant equipment	246	(352)
Gain (Loss) on Disposition of Property Plant Equipment	(246)	352
Tangible Asset Impairment Charges		49
Security deposit	3	$ 123
Office Lease [Member]
Collaborative Arrangement and Arrangement Other than Collaborative [Line Items]
Security deposit	120
Electrical Contract [Member]
Collaborative Arrangement and Arrangement Other than Collaborative [Line Items]
Payments for deposit	$ 120

Investment _ Available for sa_2

Investment – Available for sale (Details Narrative) $ in Thousands	Dec. 31, 2021USD ($)
Net Investment Income [Line Items]
Maturity date of notes	Dec. 31, 2024
Convertible Promissory Note [Member].
Net Investment Income [Line Items]
Investment covertible promissory	$ 50
Debt instrument accrued interest rate	8.00%
Investment, rate	5.00%

Schedule of Derivative Liabilit

Schedule of Derivative Liability Activity (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020
Debt Disclosure [Abstract]
Balance of derivative liabilities beginning	$ 246
Issued	(732)	555
Change in fair value of derivative liability	79	(309)
Warrants Issued	2,492
Change in fair value of warrant liability	(955)
Balance of derivative liabilities ending	$ 1,130	$ 246

Schedule of Derivative Liabil_2

Schedule of Derivative Liability Fair Value (Details) - USD ($) $ in Thousands	Dec. 31, 2021	Dec. 31, 2020
Defined Benefit Plan Disclosure [Line Items]
Derivative liability	$ 1,130	$ 246
Fair Value, Inputs, Level 1 [Member]
Defined Benefit Plan Disclosure [Line Items]
Derivative liability
Fair Value, Inputs, Level 2 [Member]
Defined Benefit Plan Disclosure [Line Items]
Derivative liability
Fair Value, Inputs, Level 3 [Member]
Defined Benefit Plan Disclosure [Line Items]
Derivative liability	$ 1,130	$ 246

Notes Payable (Details Narrativ

Notes Payable (Details Narrative)	Dec. 31, 2021USD ($)$ / shares	Sep. 05, 2021	Jul. 27, 2021USD ($)shares	Jul. 21, 2021USD ($)$ / sharesshares	Jul. 21, 2021USD ($)$ / sharesshares	Jun. 15, 2021USD ($)$ / sharesshares	Apr. 16, 2021USD ($)	Mar. 05, 2021USD ($)$ / shares	Dec. 08, 2020USD ($)	Apr. 16, 2020USD ($)	Jun. 01, 2018USD ($)	Dec. 31, 2021USD ($)$ / shares	Sep. 30, 2021USD ($)$ / sharesshares	Dec. 31, 2021USD ($)$ / shares	Dec. 31, 2020USD ($)shares	Jun. 27, 2021$ / shares	Dec. 31, 2019USD ($)
Short-term Debt [Line Items]
Maturity date of notes	Dec. 31, 2024
Amortization of debt discount														$ 526,000	$ 882,000
Accretion of Discount														526,000	882,000
Fair value of warrants derivative liability	$ 1,130,000											$ 1,130,000		1,130,000	246,000
Beneficial conversion feature														1,000,000
Change in fair value recognized in non-operating income (expense)														(79,000)	309,000
Stock Issued During Period, Value, Conversion of Convertible Securities														517,000	929,000
Gain loss on change in fair value of warrants												955
Current liabilities	$ 1,726,000											$ 1,726,000		$ 1,726,000	1,777,000
Warrant [Member] | Minimum [Member]
Short-term Debt [Line Items]
Share price | $ / shares	$ 0.017											$ 0.017		$ 0.017
Warrant [Member] | Maximum [Member]
Short-term Debt [Line Items]
Share price | $ / shares	$ 0.043											$ 0.043		$ 0.043
Convertible Promissory Note [Member] | Security Purchase Agreement [Member]
Short-term Debt [Line Items]
Unsecured promissory notes								$ 13,210,000					$ 1,481,000
Notes payable								$ 270,000
Debt Instrument, Interest Rate, Stated Percentage								8.00%
Debt discount								$ 1,000,000					758,000
Amortization of debt discount								210,000
Accretion of Discount								$ 1,210,000						$ 526,000	882,000
Fair value of warrants derivative liability				$ 1,271,000	$ 1,271,000
Remaining lives								12 months
Settlement debt													438,000
Interest Payable, Current													$ 60,000
Debt conversion price, percentage								70.00%
Debt instrument, conversion price per shares | $ / shares								$ 0.04
Debt Instrument, Interest Rate, Increase (Decrease)		5.00%											5.00%
Debt Instrument, Increase (Decrease), Net								$ 1,481,000
Class of Warrant or Right, Number of Securities Called by Warrants or Rights | shares													53,500,000
Warrant liability													$ 1,221,000
Stock Issued During Period, Shares, New Issues | shares					35,385,703
Class of Warrant or Right, Number of Securities Called by Each Warrant or Right | shares				35,385,703	35,385,703
Convertible Promissory Note [Member] | Security Purchase Agreement [Member] | Initial Tranche [Member]
Short-term Debt [Line Items]
Unsecured promissory notes								1,210,000
Convertible Promissory Note [Member] | Security Purchase Agreement [Member] | One Tranche [Member]
Short-term Debt [Line Items]
Unsecured promissory notes								1,200,000
Convertible Promissory Note [Member] | Security Purchase Agreement [Member] | Two Tranche [Member]
Short-term Debt [Line Items]
Unsecured promissory notes								1,200,000
Convertible Promissory Note [Member] | Security Purchase Agreement [Member] | Three Tranche [Member]
Short-term Debt [Line Items]
Unsecured promissory notes								1,200,000
Convertible Promissory Note [Member] | Security Purchase Agreement [Member] | Four Tranche [Member]
Short-term Debt [Line Items]
Unsecured promissory notes								1,200,000
Convertible Promissory Note [Member] | Security Purchase Agreement [Member] | FiveTranche [Member]
Short-term Debt [Line Items]
Unsecured promissory notes								1,200,000
Convertible Promissory Note [Member] | Security Purchase Agreement [Member] | Six Tranche [Member]
Short-term Debt [Line Items]
Unsecured promissory notes								$ 6,000,000
PPP Loan [Member] | Aquesta Bank [Member]
Short-term Debt [Line Items]
Unsecured promissory notes										$ 111,000
Debt Instrument, Interest Rate, Stated Percentage										1.00%
Debt monthly payments										$ 6,000
Debt description										Not more than 40% of the forgiven amount may be used for non-payroll costs
Debt forgiveness amount							$ 108,000
Current liabilities										$ 3,000
Non-current liabilities															111,000
Measurement Input, Share Price [Member] | Security Purchase Agreement [Member] | Warrant [Member]
Short-term Debt [Line Items]
Share price | $ / shares				$ 0.017	$ 0.017
Measurement Input, Share Price [Member] | Convertible Promissory Note [Member] | Security Purchase Agreement [Member]
Short-term Debt [Line Items]
Share price | $ / shares				$ 0.038	$ 0.038								$ 0.025
Measurement Input, Expected Dividend Rate [Member] | Convertible Promissory Note [Member] | Security Purchase Agreement [Member]
Short-term Debt [Line Items]
Debt instrument measurement input	0											0		0
Measurement Input, Risk Free Interest Rate [Member] | Convertible Promissory Note [Member] | Security Purchase Agreement [Member]
Short-term Debt [Line Items]
Debt instrument measurement input	1.26											1.26		1.26
Measurement Input, Price Volatility [Member] | Convertible Promissory Note [Member] | Security Purchase Agreement [Member]
Short-term Debt [Line Items]
Debt instrument measurement input	175.5			0.74	0.74							175.5	176.1	175.5
Debt instrument measurement input term				5 years
Measurement Input, Discount Rate [Member] | Convertible Promissory Note [Member] | Security Purchase Agreement [Member]
Short-term Debt [Line Items]
Debt instrument measurement input				176.1	176.1								0.98
Remaining lives													4 years 5 months 4 days
Measurement Input, Discount Rate [Member] | Convertible Promissory Note [Member] | Security Purchase Agreement [Member] | Minimum [Member]
Short-term Debt [Line Items]
Debt instrument measurement input term												4 years 2 months 12 days
Measurement Input, Discount Rate [Member] | Convertible Promissory Note [Member] | Security Purchase Agreement [Member] | Maximum [Member]
Short-term Debt [Line Items]
Debt instrument measurement input term												4 years 7 months 6 days
Measurement Input, Exercise Price [Member] | Convertible Promissory Note [Member] | Security Purchase Agreement [Member]
Short-term Debt [Line Items]
Debt instrument measurement input	0.05											0.05		0.05
June 2018 Notes [Member]
Short-term Debt [Line Items]
Unsecured promissory notes											$ 3,600,000				$ 0		$ 929,000
Notes payable											$ 3,000,000
Maturity date of notes											Apr. 1, 2019
Percentage of common stock											120.00%
Debt conversion, shares issued | shares															93,078,492
Debt conversion, amount															$ 929,000
December 2020 Note [Member]
Short-term Debt [Line Items]
Unsecured promissory notes			$ 110,000			$ 120,000
Notes payable									$ 230,000
Percentage of common stock									70.00%
Consideratin received									$ 200,000
Debt Instrument, Interest Rate, Stated Percentage									8.00%
Debt discount			66,000			86,000			$ 200,000
Amortization of debt discount									30,000
Accretion of Discount									230,000
Fair value of warrants derivative liability			$ 153,000			$ 172,000			555,000						246,000
Beneficial conversion feature									355,000
Interest expense, debt									$ 355,000
Change in fair value recognized in non-operating income (expense)															$ 309,000
Stock Issued During Period, Shares, Conversion of Convertible Securities | shares			6,673,384			4,761,905
Stock Issued During Period, Value, Conversion of Convertible Securities			$ 280,000			$ 238,000
Settlement debt			72,000			$ 32,000
Interest Payable, Current			$ 11,000
December 2020 Note [Member] | Measurement Input, Share Price [Member]
Short-term Debt [Line Items]
Debt instrument measurement input									0.027						0.04
Share price | $ / shares						$ 0.0252										$ 0.0182
December 2020 Note [Member] | Measurement Input, Conversion Price [Member]
Short-term Debt [Line Items]
Debt instrument measurement input									0.009						0.025
December 2020 Note [Member] | Measurement Input, Expected Term [Member]
Short-term Debt [Line Items]
Remaining lives									1 year						11 months 8 days
December 2020 Note [Member] | Measurement Input, Expected Dividend Rate [Member]
Short-term Debt [Line Items]
Debt instrument measurement input									0						0
December 2020 Note [Member] | Measurement Input, Risk Free Interest Rate [Member]
Short-term Debt [Line Items]
Debt instrument measurement input									0.10						0.10
December 2020 Note [Member] | Measurement Input, Price Volatility [Member]
Short-term Debt [Line Items]
Debt instrument measurement input						238.79			158.55						167.36	127.04
December 2020 Note [Member] | Measurement Input, Discount Rate [Member]
Short-term Debt [Line Items]
Debt instrument measurement input						0.05										0.05

Schedule of Future Minimum Leas

Schedule of Future Minimum Lease Payment (Details) - USD ($) $ in Thousands	Dec. 31, 2021	Dec. 31, 2020
Leases
2022	$ 42
2023	3
2024	3
2025	3
2026	3
Thereafter	12
Total undiscounted minimum future lease payments	66
Less Imputed interest	(14)
Present value of operating lease liabilities	52
Current portion	35	$ 23
Non-current portion	$ 17	$ 33

Leases (Details Narrative)

Leases (Details Narrative) - USD ($) $ in Thousands	Nov. 01, 2021	Dec. 31, 2019	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Lessee, Lease, Description [Line Items]
Monthly rent				$ 37	$ 36
Operating Lease, Weighted Average Discount Rate, Percent			21.88%
Right of use asset			$ 55	$ 56
Lease liability			$ 52
Operating lease, weighted average remaining lease term			4 years 2 months 12 days
Lease Agreement [Member].
Lessee, Lease, Description [Line Items]
Operating Lease, Weighted Average Discount Rate, Percent	8.00%
Right of use asset	$ 22
Lease liability	$ 22
Amortization			$ 21
Lease description	The agreement calls for yearly installments of $3 for the first five years, with an option to extend this lease for another five-year period at a rate not to exceed 105% of the current lease payment. On each anniversary date, the Company will pay $3 in advance, with payment for the first year paid upon execution of the lease
New office lease
Lessee, Lease, Description [Line Items]
Monthly rent		$ 3
Percentage of annual increases		3.00%			3.00%
Operating lease term		3 years			3 years
Operating Lease, Weighted Average Discount Rate, Percent		29.91%			29.91%
Right of use asset		$ 79			$ 79
Lease liability		$ 79			$ 79
Amortization			$ 34

Summary of Warrants Outstanding

Summary of Warrants Outstanding (Details) - Warrant [Member]	12 Months Ended
	Dec. 31, 2021USD ($)$ / sharesshares
Accumulated Other Comprehensive Income (Loss) [Line Items]
Warrant shares outstanding, beginning | shares
Weighted average exercise price, beginning | $ / shares
Weighted average remaining life Beginning
Intrinsic value outstanding beginning | $
Warrant shares outstanding, Issued | shares	88,885,704
Weighted average exercise price, Issued | $ / shares	$ 0.05
Weighted average remaining life, Issued	5 years
Warrant shares outstanding, Exercised | shares	(14,270,833)
Weighted average exercise price,Exercised | $ / shares	$ 0.05
Warrant shares outstanding, Expired or cancelled | shares
Weighted average exercise price,Expired or cancelled | $ / shares
Warrant shares outstanding, ending | shares	74,614,871
Weighted average exercise price, Ending | $ / shares	$ 0.05
Weighted average remaining life, Ending	4 years 5 months 19 days
Intrinsic value outstanding ending | $

Common Stock, Preferred Stock_3

Common Stock, Preferred Stock and Warrants (Details Narrative)	Sep. 30, 2021USD ($)shares	Jul. 21, 2021USD ($)shares	Jul. 31, 2019USD ($)shares	Apr. 30, 2019USD ($)$ / sharesshares	Jan. 31, 2019$ / sharesshares	Sep. 30, 2019shares	Jun. 30, 2019shares	Dec. 31, 2021USD ($)$ / sharesshares	Dec. 31, 2020USD ($)$ / sharesshares
Class of Stock [Line Items]
Proceeds From cash								$ 990,000
Derivative Liability								1,130,000	246,000
Nonoperating Income (Expense)								248,000	(1,010,000)
Derivative, Gain (Loss) on Derivative, Net								(79,000)	309,000
Common Stock, Value, Issued								607,000	507,000
[custom:CashlessExerciseOfWarrantsAndExtinguishmentOfRelatedWarrantDerivativeAdditionalPaidInCapitalLiability]								635,000
Loss on extinguishment								$ (228,000)
March 2021 Note [Member]
Class of Stock [Line Items]
Class of Warrant or Right, Number of Securities Called by Warrants or Rights | shares	53,500,000
March 2021 Note [Member] | Principal Amount [Member]
Class of Stock [Line Items]
Debt Conversion, Converted Instrument, Amount	$ 1,481,000
March 2021 Note [Member] | Accrued Interest [Member]
Class of Stock [Line Items]
Debt Conversion, Converted Instrument, Amount	$ 60,000
Warrant [Member]
Class of Stock [Line Items]
Share-based Compensation Arrangement by Share-based Payment Award, Non-Option Equity Instruments, Exercised | shares								14,270,833
Number of warrants (or share units) exercised during the current period | shares								23,500,000
Derivative, Gain (Loss) on Derivative, Net								$ 406
[custom:CashlessExerciseOfWarrantsAndExtinguishmentOfRelatedWarrantDerivativeAdditionalPaidInCapitalLiabilityShares] | shares								23,500,000
[custom:CashlessExerciseOfWarrantsAndExtinguishmentOfRelatedWarrantDerivativeAdditionalPaidInCapitalLiability]								$ 635
Loss on extinguishment								$ 228
Warrant [Member] | Measurement Input, Exercise Price [Member]
Class of Stock [Line Items]
Warrants and rights outstanding measurement input								0.05
Warrant [Member] | Measurement Input, Expected Dividend Rate [Member]
Class of Stock [Line Items]
Warrants and rights outstanding measurement input								0
Warrant [Member] | Minimum [Member]
Class of Stock [Line Items]
Stock prices | $ / shares								$ 0.017
Warrant [Member] | Minimum [Member] | Measurement Input, Expected Term [Member]
Class of Stock [Line Items]
Remaining lives								4 years 2 months 12 days
Warrant [Member] | Minimum [Member] | Measurement Input, Risk Free Interest Rate [Member]
Class of Stock [Line Items]
Warrants and rights outstanding measurement input								1.19
Warrant [Member] | Minimum [Member] | Measurement Input, Price Volatility [Member]
Class of Stock [Line Items]
Warrants and rights outstanding measurement input								175.7
Warrant [Member] | Maximum [Member]
Class of Stock [Line Items]
Stock prices | $ / shares								$ 0.043
Warrant [Member] | Maximum [Member] | Measurement Input, Expected Term [Member]
Class of Stock [Line Items]
Remaining lives								4 years 3 months 18 days
Warrant [Member] | Maximum [Member] | Measurement Input, Risk Free Interest Rate [Member]
Class of Stock [Line Items]
Warrants and rights outstanding measurement input								1.33
Warrant [Member] | Maximum [Member] | Measurement Input, Price Volatility [Member]
Class of Stock [Line Items]
Warrants and rights outstanding measurement input								177.2
Corporate Fundraising [Member]
Class of Stock [Line Items]
Proceeds from issuance of stock		$ 990,000
Stock issued during period shares | shares		35,385,703
Warrants issued to purchase common stock | shares		35,385,703
Proceeds From cash		$ 990
Derivative Liability		1,271
Nonoperating Income (Expense)		306
Derivative, Gain (Loss) on Derivative, Net		1,271
Common Stock, Value, Issued		$ 990
December 2020 Convertible Note Payable [Member]
Class of Stock [Line Items]
Debt Conversion, Converted Instrument, Amount								$ 120,000
Debt Conversion, Converted Instrument, Shares Issued | shares								4,761,905
December 2020 Convertible Note Payable [Member]
Class of Stock [Line Items]
Debt Conversion, Converted Instrument, Amount									$ 110,000
Debt Conversion, Converted Instrument, Shares Issued | shares									6,673,384
Series C Preferred Stock [Member]
Class of Stock [Line Items]
Conversion of stock shares converted | shares						35	50	115
Conversion of stock shares issued | shares						13,528,575	14,077,092	29,870,130
Stock issued during period shares | shares			200	200
Preferred stock, shares authorized | shares				200
Preferred stock, voting rights				The holders of the Series C Preferred Shares have no voting rights, receive no dividends, and are entitled to a liquidation preference equal to the stated value. At any time, the Company may redeem the Series C Preferred Shares at 1.2 times the stated value
Preferred stock, conversion term, description				Each Series C Preferred Share is convertible into shares of the Company’s common stock in an amount equal to the greater of: (a) 200,000 shares of common stock or (b) the amount derived by dividing the stated value by the product of 0.7 times the market price of the Company’s common stock
Proceeds from issuance of preferred stock			$ 1,990,000	$ 1,990,000
Preferred stock, shares issued | shares									115
Preferred stock, shares outstanding | shares									115
Series B Preferred Stock [Member]
Class of Stock [Line Items]
Preferred stock, shares authorized | shares					10,000			10,000	10,000
Preferred stock, par value | $ / shares					$ 0.001			$ 0.001	$ 0.001
Preferred stock, stated value | $ / shares					$ 100
Preferred stock, dividend rate, percentage					12.00%
Preferred stock, shares issued | shares								0	0
Preferred stock, shares outstanding | shares								0	0
Series B Preferred Stock [Member] | Board of Directors [Member]
Class of Stock [Line Items]
Preferred stock, voting rights					Each holder shall also be entitled to vote on all matters submitted to stockholders of the Company and shall be entitled to 55,000 votes for each Series B Preferred Share owned at the record date for the determination of stockholders entitled to vote on such matter or, if no such record date is established, at the date such vote is taken or any written consent of stockholders is solicited
Series C Convertible Preferred Stock [Member]
Class of Stock [Line Items]
Preferred stock, shares authorized | shares								200	200
Preferred stock, par value | $ / shares				$ 0.001				$ 0.001	$ 0.001
Preferred stock, shares issued | shares								0	115
Preferred stock, shares outstanding | shares								0	115

Schedule of Restricted Common S

Schedule of Restricted Common Stock Activity (Details) - $ / shares	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020
Share-based Payment Arrangement [Abstract]
Number of shares Non-vested, Beginning Balance	33,333	650,000
Weighted average grant date fair value Non-vested, Beginning Balance	$ 0.04	$ 1.24
Number of shares, Granted
Weighted average grant date fair value, Granted
Number of shares, Vested	(33,333)	(616,667)
Weighted average grant date fair value, Vested	$ 0.04	$ 1.48
Number of shares Non-vested, Ending Balance		33,333
Weighted average grant date fair value Non-vested, Ending Balance		$ 0.04

Stock_Based Compensation (Detai

Stock–Based Compensation (Details Narrative) - USD ($) $ / shares in Units, $ in Thousands	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Share-based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]
Stock based compensation		$ 222
Stock option. weighted average grant date fair value
Equity Option [Member]
Share-based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]
Share-based payment award, options, outstanding, number	0		6,000,000
Stock option, weighted average exercise price			$ 0.71
Stock option. weighted average grant date fair value			$ 1.29
Stock option expired date			Jan. 31, 2020
Share-based payment award, options, exercisable, number	0
Employee and Director [Member]
Share-based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]
Unamortized stock-based compensation costs		$ 0
Employee and Director [Member] | Maximum [Member]
Share-based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]
Unamortized stock-based compensation costs		1
Employee and Director [Member] | Selling, General and Administrative Expenses [Member]
Share-based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]
Stock based compensation	$ 0	$ 222

Commitments and Contingencies (

Commitments and Contingencies (Details Narrative) - USD ($) $ in Thousands	May 07, 2020	Apr. 23, 2020	Dec. 31, 2021	Dec. 31, 2020	Jun. 30, 2020	Aug. 31, 2019	Jun. 30, 2019
Non-operating income loss			$ 248	$ (1,010)
Federal Derivative Actions [Member]
Other income				119
POD5 Agreement [Member] | Bit5ive, LLC [Member]
Non-operating income loss			$ 328	4
Electric Power Agreement [Member]
Security deposit					$ 120		$ 154
Two Settlement and Termination Agreements [Member]
Present value of settlement distributions						$ 337
Gain loss on change in fair value				26
Loss contingency liability				0
Two Settlement and Termination Agreements [Member] | Monthly Settlement of Distributions [Member]
Present value of settlement distributions				90
Stipulation of Settlement [Member]
Consideration for settlement, description		The consideration for the settlement of the Derivative Actions is as follows: (i) adoption by the Company of certain corporate governance reforms, the terms of which are fully set forth in Exhibits A and B to the Stipulation; (ii) Robert B. Ladd, H. Robert Holmes, Michael Onghai, and Nolan Bushnell shall collectively pay or cause to be paid $75 to the Company; and (iii) Barry C. Honig, John Stetson, Michael Brauser, John O’Rourke III, and Mark Groussman shall collectively pay or cause to be paid $150 to the Company. Further, the Company shall, subject to court approval, pay a fee and expense award to plaintiffs’ counsel in the Derivative Actions of $150 and service awards to each of the two plaintiffs in the Derivative Actions of $1.5 each, to be paid from the fee and expense award
Federal Stipulation of Settlement [Member]
Consideration for settlement, description	The consideration for the settlement of the Federal Derivative Actions is as follows: (i) adoption by the Company of a certain corporate governance reform, the terms of which are fully set forth in Exhibit A to the Federal Stipulation; and (ii) Robert B. Ladd, H. Robert Holmes, and Michael Onghai shall collectively pay or cause to be paid $65 to the Company. Further, the Company shall, subject to court approval, pay a fee and expense award to plaintiffs’ counsel in the Federal Derivative Actions of $30 and incentive awards to each of the two plaintiffs in the Federal Derivative Actions of $0.4 each
2018 Securities Class Actions [Member]
Plaintiff cash settlement				$ 750

Schedule of Components of Defer

Schedule of Components of Deferred Tax Assets (Details) - USD ($) $ in Thousands	Dec. 31, 2021	Dec. 31, 2020
Income Tax Disclosure [Abstract]
U.S. federal tax loss carry–forward	$ 17,749	$ 17,426
U.S. State tax loss carry–forward	298	183
Equity based compensation	8,289	7,704
Fixed assets, intangible assets and goodwill	6	49
Accruals	9
Long-term investments	(6)	(6)
Total deferred tax assets	26,344	25,357
Less: valuation allowance	(26,344)	(25,357)
Net deferred tax asset

Summary of Operating Loss Carry

Summary of Operating Loss Carryforwards (Details) $ in Thousands	12 Months Ended
	Dec. 31, 2021USD ($)
Domestic Tax Authority [Member]
Operating Loss Carryforwards [Line Items]
Operating Loss Carryforwards	$ 84,519
Operating Loss Carry Forwards Limitation On Use	Fiscal 2023
State and Local Jurisdiction [Member] | GEORGIA
Operating Loss Carryforwards [Line Items]
Operating Loss Carryforwards	$ 3,061
Operating Loss Carry Forwards Limitation On Use	unlimited
State and Local Jurisdiction [Member] | NORTH CAROLINA
Operating Loss Carryforwards [Line Items]
Operating Loss Carryforwards	$ 8,031
Operating Loss Carry Forwards Limitation On Use	Fiscal 2031

Schedule of Effective Income Ta

Schedule of Effective Income Tax Rate Reconciliation (Details)	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020
Income Tax Disclosure [Abstract]
Expected Federal Tax	(21.00%)	(21.00%)
State income taxes (net of federal benefit)	(1.70%)	(0.90%)
Permanent adjustments	(2.00%)	4.80%
True up of prior year deferred tax assets	4.70%	(38.50%)
Change in state tax rate	(48.30%)	0.00%
Other	0.00%	0.10%
Change in valuation allowance	64.32%	55.50%
Effective tax rate	0.00%	0.00%

Income Taxes (Details Narrative

Income Taxes (Details Narrative)	12 Months Ended
	Dec. 31, 2021
Income Tax Disclosure [Abstract]
Income Tax Examination, Description	Tax positions that meet the more likely than not threshold are then measured using a probability weighted approach recognizing the largest amount of tax benefit that is greater than 50% likely of being realized upon ultimate settlement. The Company had no tax positions relating to open income tax returns that were considered to be uncertain.

Employee Benefit Plans (Details

Employee Benefit Plans (Details Narrative) - 401(k) Plan [Member] - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020
Defined Benefit Plan Disclosure [Line Items]
Employee contribution amount	$ 10	$ 11
Maximum [Member]
Defined Benefit Plan Disclosure [Line Items]
Employee contribution percentage	100.00%

Subsequent Events (Details Narr

Subsequent Events (Details Narrative) - Subsequent Event [Member]	3 Months Ended
	Mar. 31, 2022shares
Subsequent Event [Line Items]
Share-based Compensation Arrangement by Share-based Payment Award, Non-Option Equity Instruments, Exercised	11,197,930
Number of warrants (or share units) exercised during the current period	34,000,000