According to the latest reports, Integrated Ventures has made yet another announcement pertaining to the acquisition of more BTC mining rigs. Integrated Ventures, a Pennsylvania-based software firm has announced that it has acquired a large number of BTC mining rigs from a prominent manufacturer.
As per Integrated Ventures, the firm was able to strike a reasonable deal with Bitmain, prominent crypto-mining equipment, and hardware-manufacturing firm. Bitmain will reportedly be providing 4,800 mining rigs to Integrated Venture for Bitcoin (BTC).
Integrated Ventures has also revealed that the deal between the two companies has been completed at a price of $34 million. Following the successful deal, Bitmain will provide Integrated Ventures with 400 S19J Model Antminers every month. Integrated Ventures has confirmed that Bitmain will start delivering the said antminers to Integrated Ventures starting January of 2022.
Apart from the deal, Integrated Ventures has also confirmed the name of the firm that helped it in carrying out and finalizing the deal. It was Wattum Management firm that Integrated Ventures reportedly partnered with to carry out the deal.
Furthermore, Integrated Ventures has partnered with Wattum Management with the aim to utilize its expertise in the fields of managing and hosting the mining operations for the company.
As for the mining rigs to be delivered by Bitmain, each mining rig is capable of delivering 100 terahashes. Therefore, once all 4,800 rigs have been delivered and deployed at Integrated Ventures, it will enhance the company’s terahash production on a large scale. According to Integrated Ventures, its terahashes per second would go all the way up to 0.5 million.
At the time of writing, the overall hash rate generated by Bitcoin (BTC) mining activities is 170 million terahash/sec. Therefore, acquiring a hash rate of 0.5 million terahash/second in the overall Bitcoin (BTC) mining hashrate holds very high significance.
With the passage of time, the hash rate of Bitcoin (BTC) has doubled in the past year due to the spike in the adoption rate of cryptocurrencies. While the overall cryptocurrency industry has gained overall growth in the last year, it was Bitcoin (BTC) that gained the most amount of growth.
In the year 2020, the price of Bitcoin (BTC) gained more than a 6000% increase. This is the reason why the majority of mainstream institutions are attracted to Bitcoin (BTC) and are investing heavily in digital assets.
The running year has turned out to be even more promising and attractive for the entire mainstream industry.
Therefore, it was extremely important for Integrated Ventures to upgrade and acquire more antminers for Bitcoin (BTC). Due to more demand in Bitcoin (BTC), the trend of Bitcoin (BTC) is on the rise, and having more rigs generating more hash rate would help IV in maintaining its reputation.