<?xml version="1.0"?>
<ownershipDocument>

    <schemaVersion>X0206</schemaVersion>

    <documentType>3</documentType>

    <periodOfReport>2016-06-07</periodOfReport>

    <noSecuritiesOwned>0</noSecuritiesOwned>

    <issuer>
        <issuerCik>0001001601</issuerCik>
        <issuerName>MGT CAPITAL INVESTMENTS INC</issuerName>
        <issuerTradingSymbol>MGT</issuerTradingSymbol>
    </issuer>

    <reportingOwner>
        <reportingOwnerId>
            <rptOwnerCik>0000924053</rptOwnerCik>
            <rptOwnerName>BUSHNELL NOLAN K</rptOwnerName>
        </reportingOwnerId>
        <reportingOwnerAddress>
            <rptOwnerStreet1>C/O MGT CAPITAL INVESTMENTS, INC.</rptOwnerStreet1>
            <rptOwnerStreet2>500 MAMARONECK AVENUE, SUITE 320</rptOwnerStreet2>
            <rptOwnerCity>HARRISON</rptOwnerCity>
            <rptOwnerState>NY</rptOwnerState>
            <rptOwnerZipCode>10528</rptOwnerZipCode>
            <rptOwnerStateDescription></rptOwnerStateDescription>
        </reportingOwnerAddress>
        <reportingOwnerRelationship>
            <isDirector>1</isDirector>
            <isOfficer>0</isOfficer>
            <isTenPercentOwner>0</isTenPercentOwner>
            <isOther>0</isOther>
            <officerTitle></officerTitle>
            <otherText></otherText>
        </reportingOwnerRelationship>
    </reportingOwner>

    <nonDerivativeTable>
        <nonDerivativeHolding>
            <securityTitle>
                <value>Common Stock</value>
            </securityTitle>
            <postTransactionAmounts>
                <sharesOwnedFollowingTransaction>
                    <value>150000</value>
                    <footnoteId id="F1"/>
                </sharesOwnedFollowingTransaction>
            </postTransactionAmounts>
            <ownershipNature>
                <directOrIndirectOwnership>
                    <value>I</value>
                </directOrIndirectOwnership>
                <natureOfOwnership>
                    <value>REF</value>
                    <footnoteId id="F2"/>
                </natureOfOwnership>
            </ownershipNature>
        </nonDerivativeHolding>
    </nonDerivativeTable>

    <footnotes>
        <footnote id="F1">The securities were acquired through a grant pursuant to MGT's Amended and Restated 2012 Stock Incentive Plan. The restricted stock vests over 24 months period with 33% vesting on each of June 7, 2017, December 7, 2017 and June 7, 2018;</footnote>
        <footnote id="F2">The shares are owned by Nancy N. Bushnell, as trustee of the Bushnell Living Trust estab. 2/10/2000 whereby the reporting person may be deemed as the beneficial owner of these securities.</footnote>
    </footnotes>

    <ownerSignature>
        <signatureName>/s/ Nolan K. Bushnell</signatureName>
        <signatureDate>2016-06-14</signatureDate>
    </ownerSignature>
</ownershipDocument>
