INTEGRATED
VENTURES COMMENCES 5MW MINING OPERATIONS IN TEXAS
Philadelphia, PA -- January 9,
2023 -- InvestorsHub NewsWire -- Integrated Ventures, Inc,
(OTCQB:
INTV) ("Company") 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."
About Generate
Capital: The Company is a leading sustainable
infrastructure company driving the infrastructure revolution.
Generate Capital builds, owns, operates and finances solutions for
clean energy, transportation, water, waste and digital
infrastructure. Founded in 2014, Generate Capital partners with
over 50 technology and project developers and owns and operates
more than 2,000 assets globally. The Company is the one-stop shop
offering pioneers of the infrastructure revolution, the money and
help they need to get projects built.
About
Integrated Ventures: Structured as holdings company,
INTV is
focused on technology sector and intends on developing,
acquiring, operating and investing in high growth industries, such
as e-commerce, information technology, data center management and
cryptocurrency mining. Company's current, revenue generating
operations consist of (1) digital currency mining and hosting and
(2) sales of the mining equipment
Statement:
The information posted in this
release may contain forward-looking statements within the meaning
of the Private Securities Litigation Reform Act of1995. You can
identify these statements by use of the words "may," "will,"
"should," "plans," "explores," "expects," "anticipates,"
"continue," "estimate," "project," "intend," and similar
expressions. Forward-looking statements involve risks and
uncertainties that could cause actual results to differ materially
from those projected or anticipated. These risks and uncertainties
include, but are not limited to, general economic and business
conditions, effects of continued geopolitical unrest and regional
conflicts, competition, changes in technology and methods of
marketing, and various other factors beyond the company's
control.
