Integrated Ventures, a technology company based in Pennsylvania, has entered into a deal to purchase mining equipment worth $35 million. The information is contained in a press release.
Integrated Ventures, in partnership with New York-based mining firm Wattum Management, bought 4,800 Antminer S19Js for $34 million. The company also purchased 150 WhatsMiner M31S miners for $1 million.
The company’s stock price (OTCQB: INTV) rose by 29.6% in the last 24 hours.
Integrated Ventures appeared on the cryptocurrency scene following a rebranding in July 2017. Riding the bull market of that era, its shares surged from $0.15 to a record $5.41 in a matter of months.
In the same year, Integrated Ventures raised $50,000 by issuing cryptocurrency-backed convertible bonds.
As reported, despite the bull market and continued stock gains, Canaan’s net loss amounted to $33 million.
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