Seriously what is TANGIBLE here? Nothing was actually answered, this is just another misleading press release!
CEO/Accountant state "PLANS to START Shipping" DOES NOT even provide a target date to have these miners in operation and producing revenue. With the global backlog of goods and even several articles pointing at the backlog of shipping miners being 7+ months a "PLAN to Start" shipping means nothing! If the CEO has evidence they will all be shipped within the time frame then show pictures of them arriving at the site. Just like Tioga is was announced in Oct 2021 and still not online after 10 months, these new miners would be lucky to be online in the next year. Until then the cash burn will continue to increase and they will have to continue to dilute to pay bills, especially if BTC price stays int his range.
Is the electrical infrastructure for a full 10mW operation actually already in place or does it have to be constructed. The lead time on power distribution gear is 60 weeks for a simple setup.
Seriously underestimates the cost of electricity, no wonder why this CEO and Accountant are burning through cash, they have no clue the true operating cost of the data centers. Press Release Claims a average cost of electricity at 6 cents, but actually neglects to say what is 6 cents because the guy is a idiot. Ill assume the CEO meant 6 cents kWh which is a industry standard. The three states mentioned:
NE 8.97 cents/kWh
TX 8.36 cents/kWh
PA 9.7 cents/kWh
Average 9.1 cents/kWh
To give INTV the benefit of the doubt, lets say that the actual cost of electricity with a substantial discount brings it down to 7.5cents kWh. That 1.5 cent/kWh difference would still increase the yearly operational cost from $5.25million to $6.57million for that simple 1.5cent miscalculation adding $1.3 Million to the bottom line cost of operation. Then oh my... If they actually paid the average price without discount it would bring the yearly electricity cost to $7.97million adding a unexpected $2.7million to the electricity cost.
https://neo.ne.gov/programs/stats/inf/204.htm
This CEO should have had someone else other than his accountant read the press release.
In all reality this is garbage and is missing all the definite criteria that investors want to know:
(1) When the miners will all be powered up and actually mining/producing revenue?
(2) What is the true operating cost?
(3) What is our profit going to be?
