Integrated Ventures Completes Acquisition Of Cryptocurrency Assets Of Secure Hosting, LLC
PHILADELPHIA, Aug. 7, 2018 /PRNewswire/ -- Integrated Ventures, Inc. (OTCQB: INTV) (the "Company") is pleased to confirm the signing of a Definitive Asset Purchase Agreement ("DAPA") with Secure Hosting, LLC, ("Seller") to complete the recently announced acquisition of 182 ETH mining rigs, consisting of:
(1) 114 Fuel 8 GPU RX570
(2) 68 Fuel 8 GPU P102
(3) 182 Power Source Units.
Pursuant to the executed DAPA, the aggregate consideration for all the assets being acquired, consist of 38,019 Restricted Preferred B Shares, to be issued to the Seller or any authorized party.
In addition, the Company had executed the Hosting Agreement with HashMaster, LLC, a 30,000 sq ft/8 MW data center, located in Graham, NC. The Company agreed to lease space on per mining rig basis and HashMaster agreed to provide an optimal cooling, sufficient power, connectivity/bandwidth, physical security, 24/7 support, warranty services and virtual monitoring to facilitate hosting of mining rigs owned by the Company.
Steve Rubakh, CEO of Integrated Ventures, adds the following details:
"As of August 2, 2018, INTV is conducting mining operations in three states - PA, NJ and NC. Following an acquisition of 182 miners, the Company owns and operates 234 Etherium mining rigs. The 160 miners are online and generating revenues. The remaining 22 units are being serviced and scheduled to be connected within few weeks. By the end of the month, we expect to connect an additional 200+ assorted Antminers in our NJ location.
Our core monthly (unaudited) expenditures consist of (1) lease expense ($7,800 for PA (1,000 sq ft) and NJ (5,900 sq ft) locations), (2) electricity/internet expense ($12,500 for both PA/NJ locations) and (3) hosting fees ($13,200 for 160 miners/NC location). Taking into account all connected units, the Company expects current monthly revenues to reach $60,000+ (*) with estimated monthly cash flow of $26,500."
About Integrated Ventures Inc:
Integrated Ventures, Inc is a holdings company, focused on acquiring, launching and operating cash flow positive companies in the technology sector and mainly targeting cryptocurrency mining, equipment manufacturing, sales of branded mining rigs and blockchain software development. The Company's mining operations are located in PA, NJ and NC.
For more details, please visit www.integratedventuresinc.com.
About Cryptocurrency Investments & Risks
Integrated Ventures urges all current and potential investors to visit: (1) SEC website: https://www.sec.gov/news/public-statement/statement-clayton-2017-12-11, (2) NASAA website: http://www.nasaa.org/44073/nasaa-reminds-investors-approach-cryptocurrencies-initial-coin-offerings-cryptocurrency-related-investment-products-caution/ and (3) FINRA website: https://www.finra.org/investors/highlights/dont-fall-cryptocurrency-related-stock-scamsto understand the risks involved in cryptocurrency investing.
(*) Revenue projections are based on cryptocurrency market pricing, with BTC at $7000. Previously projected revenues were based on higher cryptocurrency market pricing, with BTC at $8500.
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.
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