Integrated Ventures Delivers 376% Q2-to-Q1 Growth With Revenues Of $1,728,108 vs $1,059,064.

Rhea-AI Summary

Integrated Ventures Inc. (INTV) has filed its Q2/2024 Report, showing significant growth in total revenues, gross profit, and net income profit. The company's mining operations have reported positive financial results, with an increase in total assets and total liquid assets. Operational highlights include a large number of miners online, strong mining gross margins, and projected annual mining revenues in the $7.5-8 million range.

PHILADELPHIA, Feb. 8, 2024 /PRNewswire/ -- Integrated Ventures Inc. (OTCQB: INTV), ("Company") is pleased to confirm filing of Q2/2024 Report, scheduled to be filed after market close, on 02/09/2024, for financial period, ending on December 31, 2023.

Financial Highlights (*) are as follow:

• Total Revenues: For the Q2/2024, the Company had generated the revenues of $1,728,108.00 vs $1,059,064.00 for Q1/2024.
• Gross Loss/Profit: Excluding Equipment Depreciation Expense, the Company's mining operations produced gross profit of $556,358.00 vs accounting based loss of $189,362.00.
• Net Income Loss/Profit: Excluding Equipment Depreciation Expense, the Company's mining operations produced net income profit of $391,381.00 vs accounting based loss of $354,340.00.
• Total Assets: As of December 31, 2023, the Company reported the total assets, in the amount of $5,445,348.00.
• Total Current Liabilities: As of December 31, 2023, the Company reported the total liabilities (non-cash), in the amount of $3,026,042.00 (Q2/2024) vs $2,975,452.00 (Q1/2024).
• Total Liquid Assets (Cash+ Digital Securities): The ending balance was $816,316.00 (Q2/2024) vs 705,423.00 (Q1/2024).
• Net Loss Per Share:  the Company's net loss per common share reported was (0.00) cents (Q2/2024) vs (0.01) (Q1/2024).

* Operational Highlights:

• # of miners online: 2,500+
• Mining gross margins: 35-40%,
• Network difficulty: 75+ 
• BTC pricing: $44,000.00+ (as of 02/07/2024).
• Annual mining revenues are projected to be in $7.5-8 million range.

About: 

Integrated Ventures,Inc is diversified holdings company that develops, acquires, operates and invests in businesses, focused on ai/information technology, data center design and cryptocurrency mining. Company's current, revenue generating operations consist of digital currency mining and hosting.

For more details, please visit the Company's website: 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 of1995. 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:

sr@integratedventures.io
(215) 613-9898

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SOURCE Integrated Ventures Inc.

FAQ

What is the ticker symbol for Integrated Ventures Inc.?

The ticker symbol for Integrated Ventures Inc. is INTV.

When is the Q2/2024 Report scheduled to be filed?

The Q2/2024 Report is scheduled to be filed after market close on 02/09/2024.

What were the total revenues for Q2/2024?

The total revenues for Q2/2024 were $1,728,108.00.

What was the net loss per share for Q2/2024?

The net loss per share for Q2/2024 was (0.00) cents.

How many miners were online according to the operational highlights?

The operational highlights reported that there were 2,500+ miners online.

What is the projected range for annual mining revenues?

The projected range for annual mining revenues is $7.5-8 million.