Integrated Ventures Signs 3 Year Colocation Agreement With Compute North To Secure Power Capacity And Reduce Operational Costs
10 March 2021 - 1:30AM
ADVFN Crypto NewsWire
Philadelphia,
PA -- March 9, 2021 -- InvestorsHub NewsWire -- Integrated
Ventures, Inc.
(OTCQB:
INTV) ("INTV" or "Company"), is pleased to confirm the
execution of a 3-year colocation and hosting contract for
cryptocurrency mining services with Compute North LLC, an industry
leader in economical, efficient data center infrastructure for
investors and large-scale clients in blockchain, cryptocurrency
mining and high-performance computing, with three locations in the
United States.
As a result,
the deal is expected to reduce direct mining operational costs,
maximize and optimize hash rate and provide growth and expansion
opportunities for INTV.
As of March
30, the Company will start shipping, its recently purchased Avalon
A1246 miners from Canaan, Inc (Nasdaq: CAN) to the Compute North
facilities, located in Nebraska and Texas. During the next 30 days,
the Company expects to (1) secure additional equity-based funding,
to purchase over 2,000 miners and to (2) engage an industry leading
consulting group, to launch a new corporate and IR
website.
“INTV
believes that Compute North, led by an experienced management team,
is a best-in-class data center operator and this hosting
arrangement will positively impact its power costs, provide
predictable power capacity and provide a clear pathway to diversify
and expand its mining operations.
The Company
will benefit from onsite technicians that will handle the daily
monitoring, troubleshooting, upgrades, firmware management and
more. As a result, the deal is expected to reduce direct mining
operational costs, maximize and optimize hash rate and provide
growth and expansion opportunities for INTV,” says Steve Rubakh,
CEO of Integrated Ventures, Inc.
“Compute
North offers a comprehensive, managed service that helps facilitate
an end-to-end hosting solution,” comments Dave Perrill, CEO of
Compute North. “With active miner management, Compute North can
help improve miner efficiency and stability. The result is maximum
performance and minimal downtime for clients, like INTV, who want
to ensure their equipment keeps hashing for the best possible
return on investment.”
About Integrated Ventures
Inc: the Company operates as Technology Holdings Company with focus on
cryptocurrency sector. For more information, please
visit www.integratedventuresinc.com.
About Compute
North: Compute North is the North American leader in TIER 0™
computing. The company provides efficient, low-cost, and highly
scalable infrastructure for clients in the blockchain,
cryptocurrency mining and the high-performance computing space.
With operations in Texas, South Dakota, and Nebraska, Compute North
brings a unique combination of data center, energy, and computing
expertise to deliver the lowest cost computing in the world. For
additional information, please visit www.computenorth.com.
Safe
Harbor
The
information provided in this press release may include
forward-looking statements relating to future events or the future
financial performance of the Company. Because such statements are
subject to risks and uncertainties, actual results may differ
materially from those expressed or implied by such forward-looking
statements. Words such as "anticipates," "plans," "expects,"
"intends," "will," "potential," "hope" and similar expressions are
intended to identify forward-looking statements. These
forward-looking statements are based upon current expectations of
the Company and involve assumptions that may never materialize or
may prove to be incorrect. Actual results and the timing of events
could differ materially from those anticipated in such
forward-looking statements as a result of various risks and
uncertainties. Detailed information regarding factors that may
cause actual results to differ materially from the results
expressed or implied by statements in this press release relating
to the Company may be found in the Company's periodic filings with
the Securities and Exchange Commission, including the factors
described in the sections entitled "Risk Factors," copies of which
may be obtained from the SEC's website at
www.sec.gov. The Company does not undertake any obligation
to update forward-looking statements contained in this press
release.
Integrated Ventures (QB) (USOTC:INTV)
Historical Stock Chart
From Mar 2024 to Apr 2024
Integrated Ventures (QB) (USOTC:INTV)
Historical Stock Chart
From Apr 2023 to Apr 2024