Integrated Ventures purchases 3 million USD worth of miners

Integrated Ventures purchases 3 million USD worth of miners

Integrated Ventures, a tech holdings company for Blockchain and crypto mining confirmed that on Feb 18th 2021 it executed $7.0 million Preferred Equity Investment Agreement with BHP Capital NY, Inc. This was followed by funding in amount of $3.0 million and plans to purchase 1000+ miners, manufactured by Canaan and MicroBT.

Due to terms of this capital raise, the Company has canceled all outstanding Preferred Class C shares, originally registered on 01/18/21. Under terms of this new funding agreement, BHP Capital NY, Inc will have a right to purchase up to 4,000 of newly registered Preferred Class D shares, valued at $1,000 and convertible at fixed price into common shares. In addition, the Company had issued BHP Capital NY, Inc, five year warrants, priced at 0.60 cents, with right to convert into common shares. If exercised, the Company will receive an additional investment, in the amount of $3.0 million.

Steve Rubakh, CEO of Integrated Ventures,stated, "We would like to thank BHP Capital NY, Inc for continuing support. Our mining business is currently generating daily revenues (based market pricing of BTC and ETH), ranging between $9,000 and $9,500, which equates to annual revenues, in amount of $3.2+ million, with margins above 65%."

 

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