Metavesco Orders Bitmain Miners, New Facility in Texas Expected Online in December
Wed, September 21, 2022 at 4:00 PM
CEO Ryan Schadel Featured in Twitter Spaces Interview, Discusses Industry, Metavesco Business Model, and New Mining Opportunity
CUMMING, GA / ACCESSWIRE / September 21, 2022 / Metavesco, Inc. (OTC PINK:MVCO) today announced that it has placed its first order for Bitmain Antminer S19j Pro 100 TH bitcoin mining rigs. The machines will be hosted at a new state-of-the-art hosting facility in Texas as part of a trial run of multiple hosting sites the company has identified. The company has ordered and paid for 18 rigs and is committed to ordering up to an additional 216 machines to be hosted at the Texas site upon a satisfactory deployment of the initial order. The facility is expected to come online by December 2022.
“Low prices in the bitcoin market have created a very attractive opportunity for us to initiate mining operations while others that got in near the peak are over-leveraged and looking for an exit. It’s an ideal investment in our future,” commented Ryan Schadel, Chief Executive Officer at Metavesco. “We’re taking a conservative approach by launching our mining initiatives with 18 rigs to ensure that the new facility meets our expectations regarding an optimized cost/reward ratio and will immediately deploy additional capital to expand upon validation.”
Separately, the company is in active discussions for a similar arrangement at a facility in Georgia. Texas and Georgia are favorable jurisdictions as they both have expressed a desire to have more crypto-related businesses.
“As I discussed in a recent Twitter Spaces interview, the decline in bitcoin prices has resulted in significantly depressed prices for bitcoin mining equipment, to the tune of about 70 percent currently versus January,” added Mr. Schadel. “We already have investments in several blue chip cryptocurrencies and are now accelerating the planned diversification of our revenue streams from staking, liquidity pools and NFTs by capitalizing on this dip to add bitcoin to our portfolio.”
The Twitter Spaces interview had more than 200 attendees, touched on a broad range of topics from the state of the industry to Metavesco’s business model, and included a short question and answer session. Interested parties are encouraged to listen to the recording at: https://twitter.com/RadioSilentplay/status/1571871072655474694?s=20&t=FZqDu2dB7xYltCn=Fzdf_zQ
Metavesco is a publicly traded web 3 enterprise. The Company generates income as a liquidity provider and invests in promising NFT projects and virtual land, primarily on EVM protocols.
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SOURCE: Metavesco, Inc.