Metavesco, Inc. Expands Bitcoin Mining Operations with New Purchase of Bitmain Antminer S19k Pro Miners

Rhea-AI Summary

Metavesco, Inc. (MVCO) Announces Significant Expansion of Bitcoin Mining Operations

Positive

• Strategic investment in state-of-the-art Bitmain Antminer S19k Pro bitcoin miners
• Commitment to acquiring 50 additional miners in December 2023
• Selection of efficient cohost facility in Iowa for new mining fleet
• Long-term approach to bitcoin mining focused on accumulation and holding

Negative

• None.

CUMMING, GA / ACCESSWIRE / November 20, 2023 / Metavesco, Inc. (OTC PINK:MVCO), a web3 enterprise and digital asset innovator, is excited to announce a significant expansion of its bitcoin mining operations. The company has placed an order for 50 Bitmain Antminer S19k Pro bitcoin miners and expects them to be operational by December 7, 2023. Additionally, Metavesco has committed to acquiring an additional 50 miners in December 2023, marking a substantial increase in its mining capacity.

This new fleet of state-of-the-art miners will be hosted at a new cohost facility in Iowa, chosen for its efficiency and ideal operating conditions. The Bitmain Antminer S19k Pro is renowned for its exceptional performance and energy efficiency, making it a top choice for sustainable and profitable mining operations.

Metavesco's investment in these miners is a strategic part of the company's broader bitcoin acquisition strategy. Unlike many in the industry, Metavesco does not mine bitcoin with the intention of immediate sale. Instead, this expansion is a testament to the company's long-term belief in the value and potential of bitcoin. The company is dedicated to strengthening its bitcoin holdings, aligning with its vision of long-term growth and sustainability in the digital asset space.

Ryan Schadel, CEO of Metavesco, Inc., states, "This investment is not just in hardware, but in the future of Metavesco and the blockchain industry. By increasing our mining capabilities, we are positioning ourselves at the forefront of digital asset innovation. Our approach to bitcoin mining is focused on accumulating, holding, and leveraging, which we believe is the best strategy for our company and our shareholders in the long run."

Metavesco's commitment to the expansion of its mining operations reflects its confidence in the enduring value of bitcoin and its role in the future of finance. This move is aligned with the company's mission to be a leading player in the Web3 space, continually adapting and growing in this rapidly evolving industry.

About Metavesco

Metavesco is a web3 enterprise and digital asset innovator. The Company generates revenue as a crypto liquidity provider via decentralized exchanges such as Uniswap, and the Company farms tokens via Proof of Stake protocols. The Company has bitcoin mining operations at hosted facilities in TX and KY. The company also invests in promising NFT projects and virtual land including OthersideMeta. Through its wholly owned subsidiary, the Company operates Boring Brew, a specialty coffee company utilizing owned and licensed NFT IP as unique packaging.

Safe Harbor Statement

This press release contains statements that constitute forward-looking statements. These statements appear in a number of places in this press release and include all statements that are not statements of historical fact regarding the intent, belief or current expectations of the Company, its directors or its officers with respect to, among other things: (i) financing plans; (ii) trends affecting its financial condition or results of operations; and (iii) growth strategy and operating strategy. The words "may", "would", "will", "expect", "estimate", "can", "believe", "potential", and similar expressions and variations thereof are intended to identify forward-looking statements. Investors are cautioned that any such forward-looking statements are not guarantees of future performance and involve risks and uncertainties, many of which are beyond the Company's ability to control, and that actual results may differ materially from those projected in the forward-looking statements as a result of various factors. More information about the potential factors that could affect the business and financial results is included in the Company's filings on sec.gov.

CONTACT:

info@metavesco.com
(678) 341-5898

SOURCE: Metavesco, Inc.

View source version on accesswire.com:
https://www.accesswire.com/806888/metavesco-inc-expands-bitcoin-mining-operations-with-new-purchase-of-bitmain-antminer-s19k-pro-miners

FAQ

What is Metavesco, Inc. (MVCO) announcing?

Metavesco is announcing a significant expansion of its bitcoin mining operations, including the purchase of 50 Bitmain Antminer S19k Pro bitcoin miners and plans for acquiring 50 more in December 2023.

Where will the new fleet of miners be hosted?

The new fleet of miners will be hosted at a new cohost facility in Iowa, chosen for its efficiency and ideal operating conditions.

What is Metavesco's approach to bitcoin mining?

Metavesco's approach to bitcoin mining is focused on accumulating, holding, and leveraging, reflecting the company's long-term belief in the value and potential of bitcoin.

What is the CEO's statement regarding the investment?

Ryan Schadel, CEO of Metavesco, Inc., emphasizes that the investment in mining capabilities is a strategic move positioning the company at the forefront of digital asset innovation and aligns with the company's vision of long-term growth and sustainability in the digital asset space.