Integrated Ventures acquires 199 GPU rigs from Secure Hosting for $868,800.
Integrated Ventures, Inc. (OTCQB: INTV) has announced a Letter of Intent with Secure Hosting, LLC to acquire 199 revenue-generating GPU-based cryptocurrency mining rigs. The transaction includes consideration of 39,679 Preferred B restricted shares issued to the selling shareholders of Secure Hosting, LLC. Both parties intend to sign a definitive Asset Purchase Agreement no later than July 30, 2018.
The acquired assets comprise 131 BitWorks units (240 mhs) powered by 8 X AMD RX570 GPUs, valued at $392,869, and 68 BitWorks units (375 mhs) powered by 8 X NVIDIA P102 GPUs, valued at $475,932. As part of the agreement, Integrated Ventures plans to execute a Hosting Service Agreement with a 30,000 sq ft/8 MW data center located in Graham, NC, to host the acquired mining rigs at an average rate of $85.00 per month on an all-in basis.
The Company has consolidated its mining operations into a facility located in Marlboro, NJ, which has resulted in reduced monthly expenses and increased operational efficiencies. Based on current ETH market pricing, the newly acquired rigs are generating over $60,000 per month with daily expenses capped at $2.78 per unit. Starting August 15, Integrated Ventures is projected to start generating monthly revenues in excess of $128,000, according to Steve Rubakh, CEO of Integrated Ventures, who stated: "We are very excited to start the business relationship and collaboration with Secure Hosting, LLC and confident that today's news will greatly fast track our mining operations."
Integrated Ventures is focused on acquiring, launching and operating companies in the technology sector with focus on cryptocurrency mining, equipment manufacturing, sales of branded mining rigs and blockchain software development. The projected figures are based on cryptocurrency market pricing of BTC $6,400.00, ETH $445.00, LTC $80.00 and ETN 0.013. Integrated Ventures urges investors to review SEC, NASAA, and FINRA guidance regarding risks involved in cryptocurrency investing.