MGT Capital Investments Inc. (OTCMKTS:MGTI) Is Finally Ready To Go With Sentinel

MGT Capital Investments Inc. (OTCMKTS:MGTI) is a stock that we’ve discussed in a quite a lot of detail here at Insider Financial over the last twelve months.Recently, the vast majority of our coverage has been rooted in bitcoin and for good reason – the company has managed to set itself up as one of the largest bitcoin miners in the US.Couple that with the fact that bitcoin has rocketed year to current levels in and around $4500 a piece and MGT has gone from a relatively obscure OTC stock to one that offers one of the most attractive public market exposures to cryptocurrency available right now. MGTI Daily ChartToday, however, our coverage steers away from the cryptocurrency space and is rooted in an area that many will likely be far more comfortable with McAfee being involved in – cybersecurity.Before this one became a bitcoin mining stock (essentially), MGT was focused squarely on the development of a piece of cybersecurity hardware called Sentinel. It's what the company calls a network intrusion detection system and it is designed to be hooked up at the "entrance" to a network and to monitor traffic that flows in and out of the network through that connection.As the company puts it, Sentinel is passive hardware device connected to each subnet, monitors network traffic for suspicious activity using sophisticated algorithms, generating an alert and deploying countermeasures when triggered.That's pretty jargony, but it's (in concept, at least) pretty simple – it's an intruder detection and alarm system for computer networks.Anyway, it was initially supposed to rollout late last year but stress testing revealed some security concerns and the company went back to the drawing board to fix the problems. The latest announcement details the fact that these problems are now fixed and the product is ready to go, with shipping reportedly slated to kickoff on November 1, 2017.Anyone wanting to pick up one of the Sentinel devices has been told by the company to head here, which is a site that links through to a PayPal order system. There's also a bitcoin payment option about to be put in place (as per the information on the site) but as of yet, there's no clear guidance as to when that might be other than "soon".So what is the importance of this?Well, to date, the only revenue that MGT has been generating derives from its bitcoin mining operations. Since we don't know exactly many bitcoins the company has mined (and, in turn, how many of these are still in BTC and haven’t been exchanged for USD) forming any sort of revenue-based valuation has been tough.This hasn't stopped price appreciating, but markets have been looking for something solid fundamentally on which they can form a longer-term bias. This piece of hardware offers exactly that. We know the price and, when the company's numbers hit, we will know how many have been sold. This offers investors (and potential share-buyers) something much more tangible to go on when forming a bias.Of course, the product is not yet released and so it's tough to ascertain exactly how the company has fixed the previous security concerns and whether there will be any more issues associated with an official rollout. With that said, however, this is the first time we have seen a fixed price and it is the first time that the product has been available for order, meaning it looks as though MGT feels it's ready to go.For us, the value in this one remains in the bitcoin operations with Sentinel playing second fiddle right now. However, as the rollout matures, this might change. We will keep an eye on the situation and update as appropriate heading into the close of the year.Check out our previous coverage of this one here. We will be updating our subscribers as soon as we know more. For the latest updates on MGTI, sign up below!Image courtesy of Blogtrepreneur via FlickrDisclosure: We have no position in MGTI and have not been compensated for this article.