PHILADELPHIA, March 1, 2021 / PRNewswire/ - Integrated Ventures Inc, (OTCQB: INTV) (“Company”) is pleased to confirm an execution of two sales contracts, for the purchases of 600 miners, manufactured by Canaan, Inc.
Model Avalon 1246 is the highest hashing unit, manufactured by Canaan and one of the most profitable and efficient miners available. The detailed summary is as follows:
Model: Avalon 1246
Hashing Rate: 90TH
Total Cost: $2,713,000 + shipping
Delivery Schedule: 300/March, 50/May, 250/August.
Steve Rubakh, CEO of Integrated Ventures, adds:
“This transaction between two publicly traded companies is the start of a long term collaboration. The Company is in final stages of securing a large capital raise by leading Wall Street institution.
The use of proceeds will include (1) pre-scheduled, monthly purchases of mining equipment, (2) finalizing the contract for power, in excess of 5 mw, with major collocation and hosting facility and for (3) legal expenses, related to the up-listing process.
The Management is looking forward toward the next 12 months, as we begin to perform the due diligence, in terms of uplisting requirements, while aggresively focusing on (1) expansion of our mining operations and (2) revenues and profitability growth”.
About Canaan, Inc: the Company (Nasdaq: CAN) engages in the research, design, and sale of integrated circuit (IC) final system products by integrating IC products for bitcoin mining and related components primarily in the People's Republic of China. It is also involved in the assembly of system products; and supply chain and distribution of system products. The company has a strategic cooperation with Northern Data AG in the areas of artificial intelligence development, blockchain technology, and datacenter operations. The company was founded in 2013 and is based in Hangzhou, the People's Republic of China.
Additional information is available by visiting their corporate website at www.canaan.io.
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.
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.