{"id":474778,"date":"2021-04-12T09:19:16","date_gmt":"2021-04-12T13:19:16","guid":{"rendered":"https:\/\/www.marketnewsdesk.com\/index.php\/integrated-ventures-partners-with-wattum-to-purchase-4800-antminer-s19jpro-miners-from-bitmain-technologies-limited\/"},"modified":"2021-04-12T09:19:16","modified_gmt":"2021-04-12T13:19:16","slug":"integrated-ventures-partners-with-wattum-to-purchase-4800-antminer-s19jpro-miners-from-bitmain-technologies-limited","status":"publish","type":"post","link":"https:\/\/www.marketnewsdesk.com\/index.php\/integrated-ventures-partners-with-wattum-to-purchase-4800-antminer-s19jpro-miners-from-bitmain-technologies-limited\/","title":{"rendered":"Integrated Ventures Partners With Wattum To Purchase 4,800 Antminer S19JPro Miners From Bitmain Technologies Limited"},"content":{"rendered":"
\n

PR Newswire<\/p>\n<\/p><\/div>\n

\n

\n PHILADELPHIA<\/span>, April 12, 2021<\/span> \/PRNewswire\/ — Integrated Ventures Inc, (OTCQB: INTV) (“Company”) is pleased to confirm that the Company has partnered with Wattum Management and entered into a 12 Month Sales and Purchase Agreement (“PO-1”) with Bitmain Technologies Limited (“Bitmain”) to acquire 4,800 Antminer model S19J (100 Th) digital currency miners. <\/p>\n

Bitmain is scheduled to manufacture and ship miners on monthly basis, in 12 equal batches of 400 units, starting on August 2021<\/span> and thru July 2022<\/span>. Partners agreed to purchase 4,800 units, on 50\/50 basis, and to pay Bitmain, approximately $34,047,600<\/span> (“Total Purchase Price” or “TPP”) (*). <\/p>\n

As a part of signed agreement, Integrated Ventures has received: (1) downside price protection for 12 months and (2) right to replace S19JPro miners with new models, scheduled to be released in early 2022.<\/p>\n

The TPP is payable as follows: (i) 25% of the TPP, upon the execution of the Sales Purchase Agreement or no later then April 19, 2021<\/span>; (ii) 35% of the TPP, is due by May 30, 2021<\/span>; and (iii) the remaining 40%, is due on monthly basis, starting on June 2021.\u00a0<\/p>\n

In addition to Bitmain order, the Company has purchased 150 WhatMiners, (“PO-2”), valued at $1,078,000<\/span>. These miners will be installed in container facility, connected to a major\u00a0power\u00a0plant, located in Kennerdell, PA<\/span> and managed by Wattum.<\/p>\n

Details on both purchase orders are below:<\/p>\n

PO-1\/Bitmain Order: <\/p>\n