Integrated Ventures Inc (INTV)

[ddaurelio]

OK - I have to admit... I was pretty intrigued by the news this morning. Buying a retired 80 MW power plant so you can generate your own electricity to run your mining rigs. That is definitely NOT something you hear every day. On the surface, it sounds like a great idea. After all, getting your power at $0.03 / KWH when everyone else is paying 4X to 5X that, or more, would be HUGE.
However, running an 80 MW power plant requires skilled operators, maintenance, capital investment for aging equipment, etc. The news feed did not indicate what type of power plant it was. If it's older, I'm assuming it was probably coal-fired? Regardless of the type, equipment upkeep and regulatory compliance is non-trivial (assuming it's going to be connected to the power grid to sell excess power). I have to believe that the generated power is going to cost more than $0.03 / KWH after factoring in all of those costs.
The other thing about this is the issuance of a LOT of shares to pay for the power plant. Going to be some dilution coming, I think....
In spite of that, though, it's definitely an interesting development, but I'll remain cautiously optimistic....