Integrated Ventures, Inc. (OTCQB: INTV) Surges 74.65% After Purchasing 50 Nemesis Rigs To Boost Ethereum Mining Capabilities
Integrated Ventures, Inc. (OTCQB: INTV) is engaged as a diversified holding company that primarily focuses within technology, mobile apps, and healthcare businesses. Shares of the holding company are surging 74.65%, through early trading on Monday, November 27, 2017. Over the past month, Integrated Ventures, Inc. has seen average daily volume of 114,502 shares. However, volume of 1.78 million shares or dollar volume of $1.1 million, has already exchanged hands on the day.
Shares of Integrated Ventures, Inc. are rallying today, after the company announced that it has purchased 50 Nemesis rigs in order to boost its Ethereum mining capabilities. The rigs will cost the company $115,500 and are scheduled to be delivered by December 22, 2017. Management estimates the new rigs will be able to generate around $13-15 per system/per day. This equates to annual revenues of around $192,000. Here is the full press release detailing of the Nemesis rigs purchase:
Integrated Ventures, Inc. Press Release:
PHILADELPHIA, Nov. 27, 2017 /PRNewswire/ — Integrated Ventures, Inc., (OTCQB: INTV) is pleased to disclose that it has placed a purchase order for Nemesis GPU based mining rigs.
Due to the market demand for the ETH and easy access to the additional capital, the Company has decided to increase its original order for Ethereum mining rigs from 25 to 50 units.
Purchase order details as follow:
- Total Value: $115,500
- Number of Units: 50
- Model: Nemesis 8G (Specs: 8 GPU X 6GB Nvidia GSX1060).
- Delivery Schedule: by December 22, 2017(estimated)
Upon delivery, installation and setup, the Company is expected to generate an estimated $1.70 per each GPU or $13-$15 per rig/per day, which shall result in an additional $240,000 (investors can verify these revenue projections by visiting www.nicehash.com/profitability-calculator). Taking into account various general expenses, including electricity, connectivity and hosting, EBITDA, for this purchase only, is projected to be around $192,000 per year.
Steve Rubakh, CEO of Integrated Ventures, Inc., comments: “The Company is aggressively identifying and pursuing all opportunities in rapidly evolving and developing the crypto mining market. Our team is convinced that ETH currency is heading towards the $1,000 level. With the current price of $480.00, which represents a monthly jump of over 63%, the mining of ETH, also known as Crypto Silicon Currency, has become very profitable. Today’s purchase will allow the Company to capitalize on surging demand for Ethereum.”
About Integrated Ventures, Inc: the Company is focused on acquiring, launching and operating companies, primarily in the technology, mobile applications and healthcare transportation sectors.
- For more details about Integrated Ventures, Inc., please visit integratedventuresinc.com.
About BitcoLab: This majority-owned subsidiary is pursuing opportunities in cryptocurrency sector with focus on bitcoin mining, hosting, pooling, manufacturing and distributing of own brand of mining equipment and the development of blockchain-based applications for financial markets.
- For more details about BitcoLab, Inc, please visit bitcolab.io.
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.
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