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Integrated Ventures Inc (OTCQB: INTV) announced the purchase of 7 mobile mining containers from Digital Shovel, enhancing its mining capacity at the PetaWatt facility in New York. Each container can accommodate over 500 miners, and the investment of $131,700 aims to double the company's annual revenue from an estimated $3 million to $6 million with Bitcoin valued at $48,000 and Ethereum at $1,800. The management is optimistic about revenue growth and cash flow improvements, anticipating further orders and a funding round exceeding $1.8 million.
Integrated Ventures Inc. (OTCQB: INTV) reported financial results for Q2/2020, highlighting combined revenues of $389,872, compared to $243,142 for Q1-Q2/2019. The company generated $19,074 in gross profit from mining and equipment sales. Current liabilities stand at $558,292, with $77,081 payable in cash. Loss from operations decreased to $72,954 versus $216,599 in Q2/2019. Future projections estimate Q3/2020 mining revenues between $400,000 and $500,000 with profit margins above 65%.
Integrated Ventures, Inc announced the completion of a $375,000 funding round by BHP Capital NY, Inc, part of a larger $3,000,000 equity investment. This brings total funds raised to $1,125,000 as of February 5, 2021. The company confirmed the arrival of WhatsMiners in New York, having purchased 26 units for $55,450. Upcoming announcements include further equipment purchases and expanded agreements with PetaWatt Holdings. Integrated Ventures focuses on blockchain applications and cryptocurrency mining.
Integrated Ventures Inc (OTCQB: INTV) announced a purchase order for 121 cryptocurrency mining units (M31S and M32S) valued at $349,329, which has been paid in full. These units have a hashing range of 66th-80th and are projected to generate daily revenues of $1,800. The delivery is expected by February 20, 2021. The company's financial position is solid, with over $675,000 in cash and liquid digital currencies. Additionally, INTV plans to raise capital for further purchases of Avalon 1246 miners, indicating a proactive approach in the booming cryptocurrency market.
Integrated Ventures Inc. (OTCQB: INTV) reported its financial results for the fiscal year ending June 30, 2020. Revenues surged by 63% to $454,170, driven by mining operations. The net loss improved significantly to $1,081,775 from $9,513,271 in FY 2019. Total liabilities decreased to $656,425, and general administrative expenses fell to $472,399. Key activities included relocating mining operations to Carthage, NY, and investing in new mining equipment. The Company also has a LOI to acquire assets with potential revenues of $1.75 million.
Integrated Ventures Inc (OTCQB: INTV) announced the execution of a Non-Binding Letter of Intent (LOI) to acquire a technology service provider and its subsidiary in Indianapolis for $200,000. The deal includes a cash payment of $120,000 and $80,000 in 12 monthly installments. The target company generated unaudited revenues of $1.8 million in 2019 and $750,000 in the first half of 2020. With over 50 active corporate clients and experience in various sectors, the acquisition aims to enhance Integrated Ventures' cryptocurrency operations and capitalize on growing data center demands.
Integrated Ventures Inc. (OTCQB: INTV) has announced a purchase order for 100 Antminer S17Pro mining rigs valued at $127,000. The rigs, set for delivery to PetaWatt, NY, in two weeks, will be upgraded with custom ASIC firmware by Wattum Technologies, aiming to increase hashing power from 56TH to 72TH and boost profitability by 20%. The company intends to acquire an additional 400 miners in the next 4-6 weeks, pending availability. CEO Steve Rubakh praised Wattum's support, emphasizing a strategic shift to more efficient mining equipment.