Point Roberts, Washington and Delta, British Columbia–(Newsfile Corp. – May 14, 2019) – Investorideas.com, a global investor news source covering blockchain and cryptocurrency, issues a special edition of the Crypto Corner, featuring Integrated Ventures Inc.(OTCQB: INTV), looking at recent news and developments in the cryptocurrency sector.
As Bitcoin and other cryptocurrencies regain stability and enter a bullish phase, many crypto related companies are focusing heavily on lower mining costs and capitalizing on this renewed interest. Bitcoin prices are entering territory not seen in some time, breaking $7500 and doubling in price since mid-December.
The Crypto Corner reported yesterday, Monday, May 13th, “This rally was accompanied by a record high in trading volume for Bitcoin set on Sunday, May 12. Blockfyre founder Jonathan Habicht tweeted:
$29 Billion in $BTC volume was traded today. The previous high of $25.5 billion was set on Jan 8, 2018.”
After experiencing historic growth (growing from a $7 billion market cap in January 2016 to a more than $600 billion market cap by late 2017), the cryptocurrency market has entered into a bear phase. Recovery has been strong in recent months, with Bitcoin’s value increasing nearly 70% from December 2018 to May 2019, and growing Institutional interest, a low cost of mining equipment and ROI are key factors for investments at these levels.
Integrated Ventures Inc. (OTCQB: INTV), a company that engages in digital currency mining operations through manufacturing equipment; selling mining rigs, as well as developing blockchain software, recently announced the signing of a Hosting and Marketing Agreement with PetaWatt Properties, LLC. As a result, the previously contemplated transaction to acquire Erie Power, LLC has been terminated, (1) due to a need for significant capital requirements to re-start the plant and build out mining infrastructure, (2) up to a 6 month timeline for launch of mining operations, (3) a need for a significant dilution due to the recent stock pricing weakness and (4) the company’s ability to secure a similar deal, in terms of power cost, without any additional investment.
On May 7, 2019, Integrated Ventures signed a three-year Agreement with PetaWatt Properties, LLC, which will allow Integrated Ventures to consolidate and streamline all mining operations (NC, PA and NJ) into one location, to eliminate the Company’s lease obligations and payroll expenses and to lower its power costs by over 50%, thus greatly enhancing mining profitability and long-term viability.
In addition, Integrated Ventures intends to market PW’s services to diversify its business by offering hosting and pool services via a la carte packages to third-party miners and market participants.
The company has formulated and plans to execute a 6 step plan, designed to position INTV for the next bull cycle:
- Operational Restructuring. To streamline and improve profitability of current operations, the company is switching from warehouse mining to third party hosting model, based on monthly flat fee and resulting in elimination of all major expenses such monthly lease, payroll, etc. All mining equipment (775+ rigs) is scheduled to be connected by May 30th.
- Securing Competitive Electricity Rates. By partnering with PetaWatt, Integrated Ventures will secure access to a lowest power pricing structure.
- Generating Cash Flow via Hosting & Mining Revenue Share Services. Integrated Ventures intends to generate significant revenue through reselling of hosting and revenue share services.
- Locking-In Record Low Hosting Rate. Newly secured Integrated Ventures’ access to the most competitive power cost, will allow the company to utilize and market one of the most competitive hosting rates in the industry, thus driving profitability and demand for long-term hosting contracts.
- Implementing All-In-One “Plug-and-Mine” Mining Solution. Integrated Ventures will offer clients an access to best hosting and pool rates for ASIC and GPU miners, creating a “We Work” -style turn-key mining option for miners seeking a fast market entry combined with a cost effective hosting and pool space.
- Purchasing Discounted Mining Rigs from Secondary Markets. Integrated Ventures will keep costs low by purchasing equipment on the secondary market, a strategy that was not possible when the market was in its infancy.
Integrated Ventures will have reliable long-term access to inexpensive electricity through its three-year agreement with PetaWatt. Access to the low cost power is the key that will allow Integrated Ventures to mine far more profitably than most of its North American competitors and provide hosting services at the market’s most competitive price point.