Integrated Ventures Launches Chia Mining - An Environmentally Friendly Bitcoin Alternative
May 26 2021 - 9:15AM
InvestorsHub NewsWire
Philadelphia, PA -- May 26, 2021 -- InvestorsHub
NewsWire -- Integrated Ventures Inc. (OTCQB: INTV),
(“Company”) is pleased to announce a purchase order with NGD
Systems, Inc, for custom designed Chia 2U Mining
Server.
In
addition, the Company has acquired 8 HP ProLiant DL380/G8/2.2 GHZ
servers, designed to increase plotting storage
capacity.
INTV
is currently mining the following cryptocurrencies: Bitcoin,
Etherium, Litecoin and Zcash.
The
Chia network is powered by energy efficient blockchain with less
damage to the
environment.
The
Chia coin will be the
fifth type of cryptocurrency to be mined by
INTV.
To create or “farm”
Chia (symbol: XCH), miners aka farmers must install Chia’s software
that creates cryptographic data known as “plots” to the hard drive.
The blockchain broadcasts a problem for each new block,
approximately every 18 seconds — with the likelihood of farmer
winning the block being determined by the availability of unused
computational storage capacity.
Specifications for the sample Chia Mining
Server:
-
BRAND/TYPE: 2U Server By
Dell
-
CPU:
Duel-socket Intel Based AMD EPYC
-
DRAM:
128gb (16 x 8TB/pre-plotted and pre-tested NVMe
SSDs)
-
$PLOTS
INCLUDED: 800
-
CONCURRENT PLOT CAPABILITY:
64
> About Chia
Network:
Chia was created by BitTorrent inventor Bram
Cohen. It was developed through a powerful, easy-to-audit and
secured new intelligent transaction programming language called
Chialisp. Chia uses a proof of space and time (POST) consensus
algorithm. Users can use the remaining hard disk space in the
storage device for transactional verification with relatively lower
computing power and electricity consumption, rendering Chia a
higher green and environmentally friendly blockchain technology.
Chia's main network went live on March 19. As of 05/20/2021, Chia
(Symbol: XCH) is listed on the Huobi and OKEx exchanges and has
been trading in the range of $550.00 - $1,800.00.
Blockchain startup “Chia Network” has raised $61
million in a funding round, which included investment from top
venture capital firms Andreesen Horowitz and Richmond Global
Ventures. The
decentralized smart contract platform was valued at around $500
million in the funding round, according to an anonymous source
cited by Bloomberg. The funding round was also backed by the CEO
and co-founder of Angel List Naval Ravikant, Breyer Capital, and
True Ventures.
> About
NGD Systems, Inc:
Founded in 2013 with headquarters in Irvine,
Calif., NGD Systems has focused its breakthrough technology will
fundamentally change the IT Industry by bringing compute to storage
in ways never implemented before. NGD Systems enables
infrastructure success and growth by delivering the industry’s most
innovative Computational Storage NVMe SSDs in the largest capacity
and most power-efficient storage products available. NGD Systems’
Computational Storage products enable compute at the edge without
moving data from storage devices, overcoming challenges that
current system architectures cannot solve. NGD Systems’
breakthrough technology is ideal for hyperscale environments, edge
computing, and AI/data analytic applications. For more information,
please visit https://www.ngdsystems.com.
> About Integrated
Ventures,Inc:
Corporatly structured as a Technology Portfolio
Holdings Company, INTV is focused on Blockchain Technology and
Cryptocurrency Mining. For more details, please visit the Company's
website: www.integratedventuresinc.com.
Safe Harbor
Statement:
The
information posted in this release may contain forward-looking
statements within the meaning of the Private Securities Litigation
Reform Act of1995. You can identify these statements by use of the
words "may," "will," "should," "plans," "explores," "expects,"
"anticipates," "continue," "estimate," "project," "intend," and
similar expressions. Forward-looking statements involve risks and
uncertainties that could cause actual results to differ materially
from those projected or anticipated. These risks and uncertainties
include, but are not limited to, general economic and business
conditions, effects of continued geopolitical unrest and regional
conflicts, competition, changes in technology and methods of
marketing, and various other factors beyond the company's
control.
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