Integrated Ventures Expands Its Mining Operations By Signing 5YR + 5MW Hosting Agreement With Compute North, LLC

Rhea-AI Summary

Integrated Ventures, Inc. (OTCQB: INTV) announced a 5-year collocation and hosting contract for cryptocurrency mining services with Compute North LLC, starting on July 15, 2022. The company will ship 1,575 S19J Pro miners to Compute North's facility in Wolf Hollow, Texas, aiming for full deployment by mid-August. With over 3,000 miners across three locations, INTV anticipates utilizing over 10MW of power. To fund the hosting deal, INTV secured $500,000 in equity-based funding from BHP Capital, LLC.

Positive

• Execution of a 5-year hosting contract with Compute North LLC.
• Plan to deploy 1,575 miners, enhancing operational capacity.
• Secured $500,000 in equity-based funding to support hosting deal.

Negative

• None.

PHILADELPHIA, July 6, 2022 /PRNewswire/ -- Integrated Ventures, Inc. (OTCQB: INTV) ("INTV" or "Company"), is pleased to confirm the execution of a 5-year collocation and hosting contract for cryptocurrency mining services with Compute North LLC, an industry leader in reliable and efficient data center infrastructure, with focus on institutional and large-scale clients, operating in cryptocurrency mining and high-performance computing.

Steve Rubakh, CEO of Integrated Ventures adds the following commentary:

"Starting on July 15th, Integrated Ventures plans to start shipping, 1575 of S19J Pro 100-104TH miners, which were recently purchased from Bitmain, to the Compute North newest facility, located in Wolf Hollow, Texas. This is a second transaction between, INTV and Compute North. INTV expects the full deployment to be completed by the middle of August. Between 3 hosting locations in NE, TX and PA, the Company expects to have over 3,000 miners online, utilizing over 10MW of power. To complete this 5MW hosting deal and to satisfy deposit requirements, INTV was able to secure an equity-based funding, in the amount of $500,000, from BHP Capital, LLC."

About Integrated Ventures Inc: the Company operates as Technology Holdings Company with focus on cryptocurrency sector. For more information, please visit www.integratedventuresinc.com.

Safe Harbor: The information provided in this press release may include forward-looking statements relating to future events or the future financial performance of the Company. Because such statements are subject to risks and uncertainties, actual results may differ materially from those expressed or implied by such forward-looking statements. Words such as "anticipates," "plans," "expects," "intends," "will," "potential," "hope" and similar expressions are intended to identify forward-looking statements. These forward-looking statements are based upon current expectations of the Company and involve assumptions that may never materialize or may prove to be incorrect. Actual results and the timing of events could differ materially from those anticipated in such forward-looking statements as a result of various risks and uncertainties. Detailed information regarding factors that may cause actual results to differ materially from the results expressed or implied by statements in this press release relating to the Company may be found in the Company's periodic filings with the Securities and Exchange Commission, including the factors described in the sections entitled "Risk Factors," copies of which may be obtained from the SEC's website at www.sec.gov. The Company does not undertake any obligation to update forward-looking statements contained in this press release.

Contact: Steve Rubakh, (215) 613-1111, sr@integratedventures.io

 

 

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SOURCE Integrated Ventures, Inc.

FAQ

What is Integrated Ventures' contract with Compute North?

Integrated Ventures has signed a 5-year collocation and hosting contract with Compute North for cryptocurrency mining services, starting on July 15, 2022.

How many miners will Integrated Ventures deploy?

Integrated Ventures plans to ship 1,575 S19J Pro miners to Compute North's facility in Texas.

What funding did Integrated Ventures secure for its hosting deal?

Integrated Ventures secured $500,000 in equity-based funding from BHP Capital to complete its hosting deal.

When will Integrated Ventures complete the deployment of miners?

The full deployment of miners is expected to be completed by mid-August 2022.

How much power will Integrated Ventures' miners utilize?

Combined, the miners across three locations will utilize over 10MW of power.