$INTV INTEGRATED VENTURES COMMENCES 5MW MINING OPE
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Posted On: 01/09/2023 9:21:32 AM
$INTV INTEGRATED VENTURES COMMENCES 5MW MINING OPERATIONS IN TEXAS
https://www.prnewswire.com/news-releases/inte...16520.html
PHILADELPHIA, Jan. 9, 2023 /PRNewswire/ -- Integrated Ventures, Inc, (OTCQB: INTV) (Integrated Ventures, Inc) is pleased to confirm the commencement of mining operations in Wolf Hollow, TX, effective 01/04/2023.
Previously (2021-2022), Integrated Ventures has signed two hosting agreements (locations: Kearney, NE and Wolf Hollow, TX) with Compute North. Due to the financial difficulties, on 09/22/2022, Compute North was forced to file Chapter 11. Thru Chapter 11 proceedings, Generate Capital, ("GC"
had acquired both mining facilities and re-named them as Delta Site, (NE) and Charlie Site, (TX). On 12/30/2022, INTV had executed an Amendment Agreement with GC, required to launch mining operations at Charlie Site (managed by US Bitcoin company). Effective 01/04/2023, all S19JPro miners, located at Charlie Site got energized.
Steve Rubakh, CEO of Integrated Ventures comments: "We are thrilled with our latest expansion progress. As of 01/04/2023, INTV's mining operations (Delta Site, Charlie Site and Tioga Site) consist of over 2600 miners, with hashrate reaching 260 PH. Based on (1) total deployed capacity over 7.5 MW , (2) BTC pricing of $16,800, (3) spot hashrate of $63.10 and (4) network difficulty of 34.09T, the Company projects to generate, annually, over $5.6 million in mining revenues. During 2023, INTV plans to diversify its current business strategy, via strategic JV's and M&A transactions, designed to (1) acquire additional, technology focused assets and (2) facilitate revenue growth."
https://www.prnewswire.com/news-releases/inte...16520.html
PHILADELPHIA, Jan. 9, 2023 /PRNewswire/ -- Integrated Ventures, Inc, (OTCQB: INTV) (Integrated Ventures, Inc) is pleased to confirm the commencement of mining operations in Wolf Hollow, TX, effective 01/04/2023.
Previously (2021-2022), Integrated Ventures has signed two hosting agreements (locations: Kearney, NE and Wolf Hollow, TX) with Compute North. Due to the financial difficulties, on 09/22/2022, Compute North was forced to file Chapter 11. Thru Chapter 11 proceedings, Generate Capital, ("GC"
had acquired both mining facilities and re-named them as Delta Site, (NE) and Charlie Site, (TX). On 12/30/2022, INTV had executed an Amendment Agreement with GC, required to launch mining operations at Charlie Site (managed by US Bitcoin company). Effective 01/04/2023, all S19JPro miners, located at Charlie Site got energized. Steve Rubakh, CEO of Integrated Ventures comments: "We are thrilled with our latest expansion progress. As of 01/04/2023, INTV's mining operations (Delta Site, Charlie Site and Tioga Site) consist of over 2600 miners, with hashrate reaching 260 PH. Based on (1) total deployed capacity over 7.5 MW , (2) BTC pricing of $16,800, (3) spot hashrate of $63.10 and (4) network difficulty of 34.09T, the Company projects to generate, annually, over $5.6 million in mining revenues. During 2023, INTV plans to diversify its current business strategy, via strategic JV's and M&A transactions, designed to (1) acquire additional, technology focused assets and (2) facilitate revenue growth."
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