Philadelphia, PA -- April 12, 2021 --
InvestorsHub NewsWire -- Integrated Ventures Inc, (OTCQB:
INTV) (“Company”) is pleased to confirm that the
Company has partnered with Wattum Management and entered
into a 12 Month Sales and Purchase Agreement (“PO-1”) with Bitmain
Technologies Limited (“Bitmain”) to acquire 4,800 Antminer model
S19J (100 Th) digital currency miners.
Bitmain is scheduled to manufacture and ship
miners on monthly basis, in 12 equal batches of 400 units, starting
on August 2021 and thru July 2022. Partners agreed to purchase
4,800 units, on 50/50 basis, and to pay Bitmain, approximately
$34,047,600 (“Total Purchase Price” or “TPP”)
(*).
As a part of signed agreement, Integrated
Ventures has received: (1) downside price protection for 12 months
and (2) right to replace S19JPro miners with new models, scheduled
to be released in early 2022.
The TPP is payable as follows: (i) 25% of the
TPP, upon the execution of the Sales Purchase Agreement or no later
then April 19, 2021; (ii) 35% of the TPP, is due by May 30, 2021;
and (iii) the remaining 40%, is due on monthly basis, starting on
June 2021.
In addition to Bitmain order, the Company has
purchased 150 WhatMiners, (“PO-2”), valued at $1,078,000. These
miners will be installed in container facility, connected to a
major power plant, located in Kennerdell, PA and managed
by Wattum.
Details on both purchase orders are
below:
PO-1/Bitmain Order:
-
Antminer S19JPro – 100TH
-
Shipping Schedule: August, 2021 – June,
2022
-
Total Qty: 4,800
-
Total Purchase Price:
$34,047,600
PO-2/WhatsMiner Order:
-
WhatsMiner M31S – 82TH
-
Shipping Schedule: May 15, 2021
-
Total Qty: 150 units
-
Total Purchase Price:
$1,078,000
Steve Rubakh, CEO of Integrated Ventures, Inc.,
provides the following commentary: “The Company is very pleased to secure this large
scale purchase agreement, especially during a period of scarce
supply of mining hardware. Going forward, INTV
is committed to deploy any raised capital for
purchases of the mining equipment. This purchase effectively
doubles INTV's hash rate and represents a major step in INTV's
strategic growth plan, resulting in significant increase of the
Company's projected revenue growth
rate.
Below is detailed shipping schedule for all
in-coming mining equipment for the rest of 2021:
-
300 Avalons/model 1166Pro/assorted 75TH-82TH -
April delivery
-
150 WhatsMiners/model M31S/82TH - May
delivery
-
200 Antminers/model S19JPro/100TH - August
delivery
-
250 Avalons/model 1166Pro/75TH-82TH - August
delivery
-
200 Antminers/model S19JPro/100TH - September
delivery
-
200 Antminers/model S19JPro/100TH - October
delivery
-
200 Antminers/model S19JPro/100TH - November
delivery
-
200 Antminers/model S19JPro/100TH - December
delivery.
By the end of December 2021, at minimum,
the Company will own and operate over 2,000 miners. Based on BTC
pricing of $60,000, the projected and unaudited mining revenues for
next 12 months, once all units are connected are expected to be in
range of $19,000,000 and $21,000,000 million
dollars.”
Arseniy Grusha, CEO of Wattum Management, Inc.,
adds the following: “We are pleased to partner with INTV and to be
an integral part of 12 month Sales & Purchase Agreement with
Bitmain Technologies Limited, to jointly acquire 4,800 units of
S19JPro – one of the most efficient miners available on the market.
Both companies are focused on expanding their mining and hosting
operations, by launching multiple data centers and mobile mining
farms. We are looking forward to a mutually beneficial and long
term cooperation with goal of establishing Integrated Ventures and
Wattum as leaders in rapidly growing North American cryptocurrency
market.”
(*) Subject to price adjustments and related
offsets.
About Integrated Ventures
Inc: The Company operates as Technology Holdings
Company with focus on cryptocurrency sector. For more information,
please visit company's website at www.integratedventuresinc.com.
About Wattum Management,
Inc: NY based and privately owned, leading technology corporation,
focused on provideng cost efficient and reliable hosting services,
firmware design, distribution of mining equipment, complete
facility management and mining pool
operations.
About Bitman Technologies
Limited: Founded in 2013, Bitmain transforms computing by
building industry-defining technology in cryptocurrency,
blockchain, and artificial intelligence (AI). Bitmain leads the
industry in the production of integrated circuits for
cryptocurrency mining, as well as mining hardware under the
Antminer brand. The company also operates the largest
cryptocurrency mining pools worldwide- Antpool.com and BTC.com.
Bitmain technology supports a wide range of blockchain platforms
and startups.
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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