Bitcoin miner MGT Capital Investments, Inc. provided an operating update to their investors in a press release Wednesday.

The company has commenced Bitcoin mining in its LaFayette, Georgia facility. Utilizing a new container solution, 456 Bitmain S9 miners, phase one of the site remains on track and on budget.

MGT also reduced the number of agreements it has with third-party hosting facilities to 1,200 S9 miners in Colorado and 576 S9 miners in Ohio. The company has ordered two more Pod5ive containers for the new S17 miners at its Georgia facility as a result of good performance in Ohio.

The company terminated all third-party management agreements to increase transparency and simplify operating results. MGT has also sold 2,000 units of S9 miners and continues to sell inventory.

Headquartered in Durham, MGT Capital is one of the largest U.S. based Bitcoin miners.

MGT Capital traded at 3 cents on Thursday, down less than 1 percent.