Integrated Ventures Buys Additional Miners With Focus On $7 Million In Yearly Revenues

Rhea-AI Summary

Integrated Ventures Inc (INTV) confirms the purchase of new cryptocurrency mining equipment, including 239 units of Antminer S19J, S19Pro, and Avalon A1246, with a total value of $300,000. The equipment will be online within 2 weeks, contributing to a total hash rate expected to exceed 250 PH.

Positive

• The purchase of new cryptocurrency mining equipment demonstrates Integrated Ventures Inc's commitment to expanding its mining operations, which could potentially lead to increased revenue and profitability in the future.

Negative

• None.

PHILADELPHIA, Nov. 8, 2023 /PRNewswire/ -- Integrated Ventures Inc, (OTCQB: INTV) ("Company") is pleased to confirm the purchase of new cryptocurrency (Antminers S19 - ASICs) mining equipment.

Equipment details are as follow: 

• Antminer S19J - 210 units
• Antminer S19Pro -15 units
• Avalon A1246 -14 units

Total Qty: 239 units

Total Value: $300,000

Steve Rubakh, CEO of Integrated Ventures, Inc., provides  the following commentary:

"This purchase was completed and fully paid for by issuing combination of common shares and BTC. All miners are expected to be online within 2 weeks. As of 11/16/2023, we expect to have over 2,550 miners hashing at data center, located in Granbury, TX and managed by US Bitcoin, Corp. Estimated total hash rate is expected to exceed 250 PH."

About Integrated Ventures Inc:

The Company a diversified holdings company that develops, acquires, operates and invests in businesses, primarily in the technology sector with focus on (1) AI/AR/MR/Blockchain platforms/applications,  (2) real estate assets, suitable for data center operations and (3) cryptocurrency mining. INTV's current revenue generating operations, consist of crypto currency mining/hosting.  

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.

Contact:

Steve Rubakh 
(215) 613-9898
sr@integratedventures.io

 

 

View original content:https://www.prnewswire.com/news-releases/integrated-ventures-buys-additional-miners-with-focus-on-7-million-in-yearly-revenues-301981795.html

SOURCE Integrated Ventures, Inc

FAQ

What equipment did Integrated Ventures Inc purchase for cryptocurrency mining?

Integrated Ventures Inc purchased 239 units of Antminer S19J, S19Pro, and Avalon A1246.

How much did the new equipment cost?

The total value of the new equipment is $300,000.

Where will the new equipment be located?

The new equipment will be located in a data center in Granbury, TX, managed by US Bitcoin, Corp.

What is the expected total hash rate from the new equipment?

The estimated total hash rate is expected to exceed 250 PH.

How was the new equipment purchase funded?

The purchase was fully paid for by issuing a combination of common shares and BTC.