Integrated Ventures Inc, has been trying to move up with the price of bitcoin in recent weeks but has generally failed to do this so far. In may INTV popped to highs near $0.40 but has come back down to current levels since then.
Integrated Ventures, Inc is a diversified holdings company that acquires, invests, launches and operates businesses, primarily in the technology sector with focus on cryptocurrency, including digital currency mining and hosting, manufacturing and distribution of the mining equipment and blockchain development and deployment. The company is focused on implementing innovative and profitable strategies, creating liquidity through asset based infrastructure, supporting and improving operations, infusing growth capital, maintaining and expanding a market presence in the niche sector initiatives.
Last month INTV filed its Quarterly Report (Form 10-Q), for the financial period, ended March 31, 2019. For the nine months, ended March 31, 2019, the Company had total revenues of $249,319, consisting of revenues from mining operations of $223,874 and equipment and parts retail sales of $25,445. For the twelve months, ended December 31, 2018, the Company had total revenues of $404,034, consisting of revenues from mining operations of $317,127 and from sales of mining equipment of $86,907.
Integrated Ventures switched from warehouse mining to the third party hosting model and relocated all mining equipment from NC, PA and NJ to NY which resulted in elimination of all operational expenses designed to improve profitability. The Company will develop and deploy All-In-One “Plug-and-Mine” Mining Solution, targeting miners seeking a turn-key market entry and featuring an access to the best hosting and pool rates for ASIC and GPU based mining rigs
Steve Rubakh, CEO of Integrated Ventures, adds the following: “Deal with PetaWatt secures the key component for profitable mining operations – an access to the reliable and inexpensive electricity. This agreement will allow Integrated Ventures to mine far more profitably than North American competitors and provide hosting services at the market’s most competitive price point. Cost certainty, created by uninterrupted access to affordable power, will allow the Company to successfully execute all of the above strategies. This plan will allow Integrated Ventures to weather market downturns better than its competitors, while also positioning the company to earn significantly higher returns than its competitors during this newly forming bull cycle.”
On May 30 INTV announced an execution of multiple purchase orders of mining equipment with Bitmain Technologies. An initial purchase order of 40 units (Antminer S9J) was funded on 05/24/2019. In next 30 days, the Company plans to purchase an additional 250 units from Bitmain Technologies, pending confirmation from manufacturer, in regards of equipment being available. The Company has decided to restart purchasing of mining equipment due to: decrease in power and general operating costs, improved profitability of mining equipment, steady recovery of the cryptocurrency markets, positive legal and compliance environment and increase in the business activity by major financial institutions
Steve Rubakh, CEO of Integrated Ventures, adds:
“Due to the recent strength in crypto markets, the Company has decided to restart purchases of mining equipment from Bitmain Technologies. Initial order of 40 units) was a subject to the volume limitations, placed by the manufacturer. The Company intends to purchase mining equipment, on bi-weekly basis, using existing cash flow. We believe that current shareholders will be very pleased with status of our progress at NY facility. Moving forward, the Company is very confident of further revenue and profitability growth and potential for the business expansion opportunities going forward”.
Currently trading at a $5.6 million market valuation INTV has little assets manageable debt and small but growing revenues reporting $223,874 in sales for the 9 months ended March 31, 2019 up from $144k for the same period last year. INTV is an exciting story in small caps; with the rise of btc the Company is once again mining and purchasing more equipment. Many investors are cautious however as the Company has had to issue significant blocks of new stock to fund operations.
Christopher Ferraris is a third-year student at Temple University in Philadelphia. Having already completed an Associates Degree in Psychology, Christopher is now finishing his Bachelor’s degree in Finance. In preparation for working in the financial sector, Christopher is writing financial content and analysis. Every day, Christopher works on articles regarding the following topics: finance, cryptocurrency and technology.