PHILADELPHIA, May 30, 2019 /PRNewswire/ — Integrated Ventures Inc, (OTCQB: INTV) (“Company”) is pleased to announce an execution of multiple purchase orders of mining equipment with Bitmain Technologies.
An initial purchase order of 40 units (Antminer S9J) was funded on 05/24/2019. In next 30 days, the Company plans to purchase an additional 250 units from Bitmain Technologies, pending confirmation from manufacturer, in regards of equipment being available.
The Company has decided to restart purchasing of mining equipment due to:
- decrease in power and general operating costs
- improved profitability of mining equipment
- steady recovery of the cryptocurrency markets
- positive legal and compliance environment
- increase in the business activity by major financial institutions
Steve Rubakh, CEO of Integrated Ventures, adds: “Due to the recent strength in crypto markets, the Company has decided to restart purchases of mining equipment from Bitmain Technologies. Initial order of 40 units) was a subject to the volume limitations, placed by the manufacturer. The Company intends to purchase mining equipment, on bi-weekly basis, using existing cash flow. We believe that current shareholders will be very pleased with status of our progress at NY facility. Moving forward, the Company is very confident of further revenue and profitability growth and potential for the business expansion opportunities going forward.”
About Integrated Ventures Inc: The Company operates as Technology Holdings Company with focus on cryptocurrency sector. For more information, please visit company’s website at www.integratedventuresinc.com.
Safe Harbor Statement:
The information posted in this release may contain forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. 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.
SOURCE Integrated Ventures Inc