Philadelphia, PA ., November 22, 2017 /PRNewswire/ — Integrated Ventures, Inc (OTCQB: INTV) is pleased to announce the official commencement of its Bitcoin Mining Operations. This operational update is intended to provide shareholders and the investment community with up to date mining statistics and forward looking metrics regarding the cryptocurrency business.
As of today, the Company is pleased to confirm the following:
- 50 units of fully paid Antminer L3 models have been received
- 10 units of fully paid Nemesis 8G models have been received
- 5 units (sample shipment) of fully paid A4+ LTC Master models have been received.
All of 65 units are expected to be installed by November 30th, 2017 and to generate over $38,000 in revenues (next 30 days), assuming recent Bitcoin pricing and difficulty rates. Factoring in wireless hosting and connectivity, electricity and other operational expenses, EBITDA for same period, is projected to be at $31,000.
The Company expects all ordered mining rigs to be in stock and operational by the December 29th, 2017. The Company has determined that Etherium Mining has a significant upside and decided to expand its mining focus to ETH and ETH Classic, by acquiring 25 Nemesis 8G (GPU based) computers.
Upon full deployment, the total number of mining machines will consist of approximately 190 assorted rigs and generating in excess of 1.2 million in revenues, which shall easily exceed ongoing corporate capital requirements.
Steve Rubakh, CEO of Integrated Ventures, Inc., comments: “The team has been flawslly executing while running at full speed to launch Bitcoin Mining Operations, while building out facilities, coordinating the procurement of the rigs and power suppies, arranging and meeting complicated power requirements, performing equipment testing, installing and monitoring while maintaining optimal mining conditions. The commitment level, the diligence and execution has been phenominal. The price and resiliency of Bitcoin, along with the growing recognition of the Company’s revenue potential, puts the Integrated Ventures in the favorable position to be very selective in choosing financial and joint venture partners, which has been confirmed by the recent non-diltive capital raise. Our goal is obvious and clearly broadcasted – to become one of the largest U.S. based mining companies.”
Please note, that the Company believes that all revenue related calculations are accurate and based on factual information, there can be no assurance that the Company will be able to achieve all projections due to number of business related factors, such as power pricing, mining equipment availability, bitcoin market pricing and other unforeseen issues in deploying its mining rigs.
About Integrated Ventures, Inc:
The Company is focused on acquiring, launching and operating companies, primarily in the mobile technologies, ride share transportation and crypto currency sector consisting of digital asset mining, hosting, pooling, mining equipment manufacturing and the development of blockchain based applications for financial markets.
- More details about Integrated Ventures, Inc is available at integratedventuresinc.com
- More details about BitcoLab is available at bitcolab.io
Certain statements in this release constitute forward-looking statements. These statements include the capabilities and success of the Company’s business and any of its products, services or solutions. The words “believe,” “forecast,” “project,” “intend,” “expect,” “plan,” “should,” “would,” and similar expressions and all statements, which are not historical facts, are intended to identify forward-looking statements. These forward-looking statements involve and are subject to known and unknown risks, uncertainties and other factors, any of which could cause the Company to not achieve some or all of its goals or the Company’s previously reported actual results, performance (finance or operating) to change or differ from future results, performance (financing and operating) or achievements, including those expressed or implied by such forward-looking statements. More detailed information about the Company and the risk factors that may affect the realization of forward-looking statements is set forth in the Company’s filings with the SEC, copies of which may be obtained from the SEC’s website at www.sec.gov. The Company assumes no, and hereby disclaims any, obligation to update the forward-looking statements contained in this press release.