Integrated Ventures Signs 3 Year Colocation Agreement With Compute North To Secure Power Capacity And Reduce Operational Costs
Integrated Ventures (OTCQB: INTV) has entered a 3-year colocation and hosting contract with Compute North LLC, aimed at lowering mining operational costs and enhancing hash rate efficiency. Starting March 30, INTV will ship Avalon A1246 miners to Compute North's facilities in Nebraska and Texas. The deal facilitates the management of mining operations with onsite support, while INTV plans to secure additional equity funding for more miners. This partnership strives to optimize power capacity and expand INTV's cryptocurrency mining operations.
- 3-year contract with Compute North to reduce operational costs and optimize hash rate.
- Beginning shipping of Avalon A1246 miners to Nebraska and Texas facilities.
- Onsite support for mining operations to ensure efficiency and minimal downtime.
- Plans to secure equity funding for expanding miner inventory.
- None.
PHILADELPHIA, March 9, 2021 /PRNewswire/ -- Integrated Ventures, Inc. (OTCQB: INTV) ("INTV" or "Company"), is pleased to confirm the execution of a 3-year colocation and hosting contract for cryptocurrency mining services with Compute North LLC, an industry leader in economical, efficient data center infrastructure for investors and large-scale clients in blockchain, cryptocurrency mining and high-performance computing, with three locations in the United States.
As a result, the deal is expected to reduce direct mining operational costs, maximize and optimize hash rate and provide growth and expansion opportunities for INTV.
As of March 30, the Company will start shipping, its recently purchased Avalon A1246 miners from Canaan, Inc (Nasdaq: CAN) to the Compute North facilities, located in Nebraska and Texas. During the next 30 days, the Company expects to (1) secure additional equity-based funding, to purchase over 2,000 miners and to (2) engage an industry leading consulting group, to launch a new corporate and IR website.
"INTV believes that Compute North, led by an experienced management team, is a best-in-class data center operator and this hosting arrangement will positively impact its power costs, provide predictable power capacity and provide a clear pathway to diversify and expand its mining operations.
The Company will benefit from onsite technicians that will handle the daily monitoring, troubleshooting, upgrades, firmware management and more. As a result, the deal is expected to reduce direct mining operational costs, maximize and optimize hash rate and provide growth and expansion opportunities for INTV," says Steve Rubakh, CEO of Integrated Ventures, Inc.
"Compute North offers a comprehensive, managed service that helps facilitate an end-to-end hosting solution," comments Dave Perrill, CEO of Compute North. "With active miner management, Compute North can help improve miner efficiency and stability. The result is maximum performance and minimal downtime for clients, like INTV, who want to ensure their equipment keeps hashing for the best possible return on investment."
About Integrated Ventures Inc: the Company operates as Technology Holdings Company with focus on cryptocurrency sector. For more information, please visit www.integratedventuresinc.com.
About Compute North: Compute North is the North American leader in TIER 0™ computing. The company provides efficient, low-cost, and highly scalable infrastructure for clients in the blockchain, cryptocurrency mining and the high-performance computing space. With operations in Texas, South Dakota, and Nebraska, Compute North brings a unique combination of data center, energy, and computing expertise to deliver the lowest cost computing in the world. For additional information, please visit www.computenorth.com.
Safe Harbor
The information provided in this press release may include forward-looking statements relating to future events or the future financial performance of the Company. Because such statements are subject to risks and uncertainties, actual results may differ materially from those expressed or implied by such forward-looking statements. Words such as "anticipates," "plans," "expects," "intends," "will," "potential," "hope" and similar expressions are intended to identify forward-looking statements. These forward-looking statements are based upon current expectations of the Company and involve assumptions that may never materialize or may prove to be incorrect. Actual results and the timing of events could differ materially from those anticipated in such forward-looking statements as a result of various risks and uncertainties. Detailed information regarding factors that may cause actual results to differ materially from the results expressed or implied by statements in this press release relating to the Company may be found in the Company's periodic filings with the Securities and Exchange Commission, including the factors described in the sections entitled "Risk Factors," copies of which may be obtained from the SEC's website at www.sec.gov. The Company does not undertake any obligation to update forward-looking statements contained in this press release.
Contact: Steve Rubakh, (215) 613-1111, sr@emsfindapp.com
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SOURCE Integrated Ventures, Inc
FAQ
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