Integrated Ventures Purchases WhatsMiner Mining Equipment, Valued at $190,000 As Bitcoin Pricing Reaches 17,000
November 17 2020 - 9:45AM
InvestorsHub NewsWire
PHILADELPHIA,
PA -- November 17, 2020 -- InvestorsHub NewsWire
-- Integrated
Ventures Inc, (OTCQB: INTV)
(“Company”) is pleased to confirm this purchase and provide
additional details, in regards to all recent purchases of
cryptocurency mining equipment.
The
purchasing summary (Q4/2020 thru Q1/2021) of all mining eqipment is
as follows:
-
Antminer S17Pro/56TH – 100 units
(*)
-
Antminer S17Pro/73TH – 72 units
(*)
-
Antminer Z11/138 – 5 units
(*)
-
Antminer S19Pro/110TH – 2 units
(*)
-
WhatsMiner M31/74TH – 110 units
(**)
Total Units Purchased:
289
In
total, 395 units (including previously purchased Antminer T17 and
GPU powered units) will be connected by December 15,
2020.
Steve
Rubakh, CEO of Integrated Ventures, Inc,
comments:
“The
Company is deploying recently raised capital for purchases of the
mining equipment, driven by:
-
decrease in power and general operating
costs
-
improved profitability and efficience of the
mining equipment
-
recovery and recent performance of the
cryptocurrency
markets
-
significant BTC purchases, reported by major
institutions
-
cryptocurrency sector's maturity, positive
developments and acceptance as a viable
investment.
Estimated
unaudited annual mining revenues, based on BTC price of $17,000 are
tracking at $950,000+ vs actual revenues of $454,170 for year
2020.
Thus, subject to the
equipment availability, the
Company intends to execute purchases of the mining equipment, on
bi-weekly basis, mainly relying on current and future cash
flow. We expect to deliver revenue and profitability growth
and see a great potential for the M&A driven business expansion
opportunities, going
forward”.
(*) connected
units
(**) units to be
connected by December 15.
About Integrated Ventures
Inc: The
Company operates as Technology Holdings Company with focus on
blockchain and cryptocurrency sector. For more information, please
visit company's website at www.integratedventuresinc.com.
Safe Harbor
Statement:
The
information posted in this release may contain forward-looking
statements within the meaning of the Private Securities Litigation
Reform Act of 1995. You can identify these statements by use of the
words "may," "will," "should," "plans," "explores," "expects,"
"anticipates," "continue," "estimate," "project," "intend," and
similar expressions. Forward-looking statements involve risks and
uncertainties that could cause actual results to differ materially
from those projected or anticipated. These risks and uncertainties
include, but are not limited to, general economic and business
conditions, effects of continued geopolitical unrest and regional
conflicts, competition, changes in technology and methods of
marketing, and various other factors beyond the company's
control.
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