Metavesco Orders Additional Bitmain Antminer S19K Pro Bitcoin Miners

Rhea-AI Summary

Metavesco, Inc. (MVCO) has announced the purchase of 82 Bitmain Antminer S19K Pro bitcoin miners for its Iowa fleet. CEO Ryan Schadel expects a 6.25% reduction in total hosting costs and a positive impact on the company's future due to the lower cost tier power supply contract and the current bitcoin prices.

CUMMING, GA / ACCESSWIRE / December 26, 2023 / Metavesco, Inc. (OTC PINK:MVCO), a web3 enterprise and digital asset innovator, today announced it has ordered an additional 82 Bitmain Antminer S19K Pro bitcoin miners for its Iowa fleet.

Ryan Schadel, CEO of Metavesco Inc., stated, "After carefully analyzing our energy consumption and hashing power, it was determined that adding 82 miners to our fleet would allow the company to access a lower cost tier power supply contract. When these miners come online, I expect our total hosting cost to be reduced by approximately 6.25%." Mr. Schadel continued, "With our total input cost per bitcoin produced at roughly $21,000 and bitcoin prices holding above $40,000, this was an easy investment to make in Metavesco's future."

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, KY and IA. 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 otcmarkets.com.

CONTACT:

info@metavesco.com
(678) 341-5898

SOURCE: Metavesco, Inc.

View the original press release on accesswire.com

FAQ

What did Metavesco, Inc. (MVCO) announce?

Metavesco, Inc. (MVCO) announced the purchase of 82 Bitmain Antminer S19K Pro bitcoin miners for its Iowa fleet.

Who is the CEO of Metavesco, Inc. (MVCO)?

The CEO of Metavesco, Inc. (MVCO) is Ryan Schadel.

What impact does the purchase of the bitcoin miners have on Metavesco, Inc. (MVCO)?

The purchase of the bitcoin miners is expected to result in a 6.25% reduction in total hosting costs and a positive impact on the company's future due to the lower cost tier power supply contract and the current bitcoin prices.