Integrated Ventures, Inc. 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 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
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 flawlessly executing while running at full speed to launch Bitcoin Mining Operations, while building out facilities, coordinating the procurement of the rigs and power supplies, 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 phenomenal. 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-dilutive 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.
