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PHILADELPHIA, November 17, 2020 / PRNewswire / – Integrated Ventures Inc, (OTCQB: INTV) (“Company”) is pleased to confirm this purchase and provide additional details regarding all recent purchases of cryptocurrency mining equipment.
The summary of purchases (Q4 2020 to Q1 2021) of all mining equipment is as follows:
- Antminer S17Pro / 56TH – 100 units
- Antminer S17Pro / 73TH – 72 units
- Antminer Z11 / 138 – 5 units
Antminer S19Pro / 110TH – 2 units WhatsMiner M31 / 74TH – 110 units (**)
Total units purchased: 289In total, 395 units will be connected (including GPU-powered units and Antminer T17 purchased previously)
December 15, 2020
- .
- Steve Rubakh
- , CEO of Integrated Ventures, Inc, comments:
- “The Company is using recently raised capital to purchase mining equipment, led by:
- decrease in power and general operating costs
improved profitability and efficiency of mining equipment recovery and recent performance of the cryptocurrency markets significant BTC purchases, reported by major institutions the maturity of the cryptocurrency industry, positive developments and acceptance as a viable investment. Non-certified estimated annual mining revenue, based on BTC price of
$ 17,000
they are tracking at $ 950,000 + over actual revenues of
$ 454,170 for the year 2020.Therefore, subject to the availability of the equipment, the Company intends to make purchases of the mining equipment, on a biweekly basis, mainly relying on current and future cash flows. We expect to deliver revenue and profitability growth and see great potential for M&A-led business expansion opportunities in the future. “
connected units(**) unit to be connected
December 15
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About Integrated Ventures Inc: The Company operates as a Technology Holdings Company with a focus on the blockchain and cryptocurrency sector. For more information, visit the company’s website at [email protected]www.integratedventuresinc.com
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