Integrated Ventures Purchases 100 Antminer S17Pro Upgraded With Customized Revenue Enhancing ASIC Firmware By Wattum Management

Rhea-AI Summary

Integrated Ventures Inc. (OTCQB: INTV) has announced a purchase order for 100 Antminer S17Pro mining rigs valued at $127,000. The rigs, set for delivery to PetaWatt, NY, in two weeks, will be upgraded with custom ASIC firmware by Wattum Technologies, aiming to increase hashing power from 56TH to 72TH and boost profitability by 20%. The company intends to acquire an additional 400 miners in the next 4-6 weeks, pending availability. CEO Steve Rubakh praised Wattum's support, emphasizing a strategic shift to more efficient mining equipment.

Positive

• Purchase order for 100 Antminer S17Pro valued at $127,000.
• Upgrade to ASIC firmware expected to enhance hashing rate from 56TH to 72TH.
• Projected increase in profitability by 20% due to firmware improvements.
• Plans to purchase an additional 400 miners within the next 4-6 weeks.

Negative

• None.

PHILADELPHIA, Aug. 17, 2020 /PRNewswire/ -- Integrated Ventures Inc, (OTCQB: INTV) ("Company") is pleased to announce an execution of purchase order and scheduled delivery for 100 Antminer S17Pro mining rigs.

The purchase order is valued at $127,000 and will be delivered to PetaWatt, NY, in next 2 weeks. The Company has retained Wattum Technologies to install and deploy custom ASIC firmware, designed (1) to increase hashing rate from 56TH to 72TH, while maintaining a low power consumption, (2) to optimize equipment performance and (3) to improve profitability by 20%.

Additional details about Wattum Management and the profitability data is available at https://wattummanagement.com/blog/wattum-firmware-for-antminer-s17-s17pro/

In the next 4-6 weeks, the Company plans to purchase an additional 400 assorted miners, pending equipment availability by manufacturers.

Steve Rubakh, CEO of Integrated Ventures, adds the following commentary: "We are very satified with reliable and proffessional services and support by Wattum Management team. Our Company heavily relies on their industry leading platform that delivers a complete turn-key mining solution, including (1) complete facility management, (2) installation and deployment of custom ASIC firmware, (3) equipment sales and repairs and (4) an access to the pool of talented technicians and software developers. Wattum Management has been tasked with switching Integrated Venture's mining equipment, from low performing models such Antminer S9/L3 to the newest models such as Antminer S17/S19."

About Integrated Ventures Inc: Technology Holdings Company with focus on cryptocurrency sector as well as implementation of M&A roll-up, a growth driven strategy, seeking to achieve, above market, risk-adjusted returns, primarely by targeting: (1) companies in the financial distress, (2) undergoing a turnaround or (3) undervalued companies that are looking for financial assistance, due to the current economic conditions. For more information, please visit the 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, +1 (215) 613-1111, sr@emsfindapp.com

 

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SOURCE Integrated Ventures Inc.

FAQ

What is the significance of Integrated Ventures' purchase of Antminer S17Pro (INTV)?

The purchase of 100 Antminer S17Pro rigs is valued at $127,000 and aims to increase mining efficiency and profitability.

When will the Antminer S17Pro rigs be delivered (INTV)?

The Antminer S17Pro rigs are scheduled for delivery to PetaWatt, NY, in the next two weeks.

What firmware enhancement is Integrated Ventures implementing (INTV)?

Integrated Ventures is using custom ASIC firmware by Wattum Technologies to enhance hashing rates and profitability.

How much is Integrated Ventures planning to invest in additional mining rigs (INTV)?

Integrated Ventures plans to purchase an additional 400 assorted miners, pending equipment availability.

Who is responsible for the installation and optimization of mining rigs (INTV)?

Wattum Technologies has been retained by Integrated Ventures to install and deploy the custom ASIC firmware.