Benzinga | Mar 9, 2021 10:16AM EST

Integrated Ventures Inks 3 Year Crypto Mining Contract With Compute North

* Integrated Ventures Inc (OTC: INTV) confirmed the execution of a 3-year colocation and hosting contract for cryptocurrency mining services with Compute North, an efficient data center infrastructure for investors and large-scale clients in blockchain, cryptocurrency mining, and high-performance computing, with three locations in the U.S.

* The deal is expected to cut direct mining operational costs, maximize and enhance the hash rate and provide growth and expansion opportunities for INTV.

* The company will start shipping the recently purchased Avalon A1246 miners from Canaan, Inc (NASDAQ: CAN) to the Compute North facilities, located in Nebraska and Texas, as of March 30.

* The company expects to secure additional equity-based funding to purchase over 2,000 miners and involve an industry-leading consulting group to launch a new corporate and IR website over the next month.

* The company is estimated to benefit from onsite technicians as per Integrated Ventures CEO Steve Rubakh.

* Price action: INTV shares are up 14.9% at $0.54 on the last check Tuesday.