MKTY - Mergers and acquisitions

Adds 300 MW Pipeline Under LOI; Monetizing Wasted Renewable Energy Production from Wind & Solar Farm Owners  ALBANY, N.Y., Nov. 02, 2021 (GLOBE NEWSWIRE) -- via NewMediaWire -- Mechanical Technology, Incorporated ("MTI" or the "Company"), (NASDAQ:MKTY), the parent company of EcoChain, Inc. ("EcoChain"), a cryptocurrency mining business powered by renewable energy, and MTI Instruments, Inc. ("MTI Instruments"), a test and measurement instruments and systems business, today announced that it has completed the acquisition of Soluna Computing, Inc. ("SCI"), which now becomes a wholly-owned subsidiary of EcoChain. The combination allows SCI to more easily access capital and resources necess

NEW YORK,, Aug. 12, 2021 /PRNewswire/ -- Mechanical Technology Inc (NASDAQ:MKTY) released its 2021 Q2 financials this week, capping off a strong quarter on both the revenue and production sides. Total revenue was reported at $3.3 million, up 35% from the previous quarter. Cryptocurrency revenue through the Company's EcoChain division, was $1.6 million.  Cash on hand was $12.1 million after a $15 million equity offering, a significant increase from the $2.7 million reported end of Q1. The additional purchase power opened up an opportunity for MTI to take advantage of crypto market disruptions in China by purchasing dormant S19s at a discounted price. The power density of these chips increases

Combined Company Will Monetize Wasted Renewable Energy Production from Wind & Solar Farm Owners ALBANY, N.Y., Aug. 12, 2021 (GLOBE NEWSWIRE) -- via NewMediaWire -- Mechanical Technology, Incorporated ("MTI"), (NASDAQ:MKTY), today announced that it and its wholly-owned subsidiary EcoChain, Inc. ("EcoChain"), a cryptocurrency mining business powered by renewable energy, have entered into agreements for EcoChain to acquire Soluna Computing, Inc. ("SCI" or "Soluna"). Upon closing of the transaction, SCI will become a wholly owned subsidiary of EcoChain (together, the "Combined Company.") The combination will allow SCI to more easily access the capital and resources necessary to scale its

ALBANY, N.Y., April 12, 2021 /PRNewswire/ -- EcoChain, Inc. ("EcoChain"), a wholly-owned subsidiary of Mechanical Technology, Incorporated ("MTI" or the "Company"), (NASDAQ:MKTY), a cryptocurrency mining business powered by renewable energy, today announced the acquisition of approximately 11.2 Petahash in SHA-256 Bitcoin miners and 235 Gigahash in Scrypt Litecoin miners for use by the Company and EcoChain in connection with the planned growth of MTI's cryptocurrency mining business. As of the close of business today, this capacity will be on-line and operational.  Considerati