Integrated Ventures Inc. has announced that it is has signed a Letter of Intent (“LOI”) with Secure Hosting, LLC to acquire cryptocurrency equipment consisting of 199 revenue generating GPU based mining rigs.
As part of this LOI, Integrated Ventures plans to execute a Hosting Service Agreement with 30,000 sq ft/8 MW data center, located in Graham, NC, to host all acquired mining rigs, at an average rate of $85.00 (all-in) per month.
Steve Rubakh, CEO of Integrated Ventures, says the company is very excited to start the business relationship and collaboration with Secure Hosting, LLC and confident that the deal will greatly fast-track its mining operations.
He added that based on current ETH market pricing, newly acquired rigs are generating over $60,000 per month with daily expenses capped at $2.78 per unit. The Company is pleased to confirm that it has successfully consolidated its mining operations into one facility located in Marlboro, NJ which resulted in reduction of its monthly expenses and increase in the operational efficiencies. Starting on August 15, INTV is projected to start generating monthly revenues in excess of $128,000.
The aggregate consideration for the Assets being acquired, consists of 39,679 Preferred B restricted shares, being issued to the selling shareholders of the Secure Hosting, LLC. Both parties intend to sign an Asset Purchase Agreement (“APA”) no later than July 30, 2018.
The mining rigs are as follow:
131 BitWorks (240 mhs) – Powered By 8 X AMD RX570 GPUs (valued at $392,869)
68 BitWorks (375 mhs) – Powered By 8 X NVIDIA P102 GPUs (valued at $475,932)
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.