Q2 And Future Business Initiatives:
1) After performing a standard Due Diligence, the Company had decided to terminate Letter Of Intent To Purchase All Assets Of Erie Power, LLC
2) The Company had switched from warehouse mining to the third party hosting model and relocated all mining equipment from NC, PA and NJ to NY which resulted in elimination of all operational expenses designed to improve profitability
3) The Company had executed Agreement with PetaWatt, LLC to secure and market the competitive electricity rates and other mining related services
4) The Company will develop and deplay All-In-One “Plug-and-Mine” Mining Solution, targeting miners seeking a turn-key market entry and featuring an access to the best hosting and pool rates for ASIC and GPU based mining rigs
5) The Company will focus on sourcing and purchasing deeply discounted mining rigs from secondary markets to lower an initial investment and to deliver a profitable ROI.
Steve Rubakh, CEO of Integrated Ventures, adds the following: “Deal with PetaWatt secures the key component for profitable mining operations – an access to the reliable and inexpensive electricity.
This agreement will allow Integrated Ventures to mine far more profitably than North American competitors and provide hosting services at the market’s most competitive price point.
Cost certainty, created by uninterrupted access to affordable power, will allow the Company to succesfully execute all of the above strategies.
This plan will allow Integrated Ventures to weather market downturns better than its competitors, while also positioning the company to earn significantly higher returns than its competitors during this newly forming bull cycle”.
About Integrated Ventures Inc: The Company operates as Technology Holdings Company with focus on cryptocurrency sector. For more information, please visit company's website at www.integratedventuresinc.com.
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