We’ve never touched upon Integrated Ventures Inc (OTCMKTS: INTV) here on Street Register before. A brief synopsis as described by the company itself categorizes it as a firm focused on acquiring, launching and operating companies in cryptocurrency sector consisting of digital asset mining, hosting, pooling, mining equipment manufacturing and the development of blockchain based applications.
It’s only natural that we’ve run across more and more bitcoin related plays in recent months, during which time, prices for the world most popular cryptocurrency have continually streaked to new highs. Our attention was drawn to INTV as the company has provided an operational update to that effect.
Integrated Ventures Inc (OTCMKKTS: INTV) announced 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.
The Company has confirmed that 50 units of fully paid Antminer L3 models have been received, along with 10 units of fully paid Nemesis 8G models, and a 5-unit sample shipment of fully paid A4+ LTC Master models.
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.”
There can, of course, be no assurance that the Company will be able to achieve all projections due to a number of business related factors, such as power pricing, mining equipment availability, bitcoin market pricing and other unforeseeable issues.
With Bitcoin prices pushing the ten thousand dollar mark, after having just breached $5000/BTC several weeks ago, there seems to be no end in sight for the cryptocurrency’s ceiling, as well as the numerous business entities that are currently scrambling to carve out a slice of the pie. It’s a golden age for stocks like INTV, and we’re going to certain to track every ‘bit’. Keep it locked to Street Register for updates, and we’ll deliver those important developments on INTV to you as they unfold. In the meantime, if you’ve yet to sign up for our 100% free newsletter, do so now! Just enter your active email address into the box below and submit!
Disclosure: No one at Street Register has been compensated in any way for the publishing of this article, nor do we hold any position in INTV stock, short or long.