Integrated Ventures Purchases Mobile Mining Containers To Double Its Mining Rig Capacity As Bitcoin Trades Above $50,000

Rhea-AI Summary

Integrated Ventures Inc (OTCQB: INTV) announced the purchase of 7 mobile mining containers from Digital Shovel, enhancing its mining capacity at the PetaWatt facility in New York. Each container can accommodate over 500 miners, and the investment of $131,700 aims to double the company's annual revenue from an estimated $3 million to $6 million with Bitcoin valued at $48,000 and Ethereum at $1,800. The management is optimistic about revenue growth and cash flow improvements, anticipating further orders and a funding round exceeding $1.8 million.

Positive

• Purchase of 7 mobile mining containers will increase miner capacity significantly.
• Projected annual revenues expected to double from $3 million to $6 million.
• Management confident in accelerated cash flow and revenue growth.

Negative

• None.

PHILADELPHIA, Feb. 17, 2021 /PRNewswire/ -- Integrated Ventures Inc, (OTCQB: INTV) ("Company") is pleased to confirm a purchase of 7 turn-key, fully equipped and build out, 20" mobile containers, manufactured by Digital Shovel, for deployment at PetaWatt facility, located in upstate New York.

This mining farm in-the-box is powered by versatile "MiniPods" are (1) capable of hosting 500+ miners, combined, (2) the most flexible solution, in terms of miner type, (3) power efficient, (4) cost effective and (5) designed for fast and easy assembly, by placing near any power source.

The specs are as follow:

• Maximum Rig Capacity Per Container: Antminer S17/S19 (70 units), WhatsMiner/Avalon (90 units), 4U GPU rigs (40 units)
• Power Capacity Per Container: 305 KW
• Total Power Capacity: 2.1 MW
• Size: 20"
• Shelving With CNC Cut Hot Isle Containment Barrier
• Voltage: 415 volts, 5 Wire, 220-240 Volts Primary
• Ventilation: Hot Isle With 26,000 CFM Fan
• Digital Smart PDUS (C14/C19 Outlets/20Amp Breakers) with virtual power monitoring, switching, auto rebooting + for maximum wattage and protection
• Magnetic Door Touch Screen Lock System
• Automated Warm Air Recirculation
• Purchase Price: $131,700.00
• Manufacturing & Delivery Schedule: 6-8 weeks
• Additional information is available at www.digitalshovel.com.

Steve Rubakh, CEO of Integrated Ventures, adds:

"This purchase allows us to double number of miners and our annual revenues, from estimated (based on BTC at $48,000 and ETH at $1,800.00) $3,000,000 to $6,000,000.

Once Chinese New Year vacation is over, we expect to place orders for 500+ miners and to complete an additional $1.8mil+ funding round.

Moving forward, the management is very confident of accelerated cash flow, revenue growth and profit margins."

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.

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. "project," "intend," and similar expressions.

Steve Rubakh, (215) 613-1111, sr@emsfindapp.com

 

 

 

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SOURCE Integrated Ventures Inc.

FAQ

What recent purchase did Integrated Ventures make?

Integrated Ventures purchased 7 mobile mining containers to increase its mining rig capacity.

How much did Integrated Ventures spend on the mining containers?

The total investment for the mining containers was $131,700.

What is the expected impact of the purchase on revenues for Integrated Ventures?

The company expects to double its annual revenue from $3 million to $6 million.

What is the capacity of each mining container purchased by Integrated Ventures?

Each container can accommodate over 500 miners, depending on the type.

When does Integrated Ventures expect to place orders for additional miners?

The company plans to place orders for 500+ miners after the Chinese New Year vacation.