CEO Ryan Schadel in Twitter Spaces interview, talks about industry, Metavesco business model and new mining opportunities
CUMMING, GA / ACCESSWIRE / September 21, 2022 / Metavesco, Inc. (OTC PINK: MVCO) announced today 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 of multiple hosting sites identified by the company. The Company has ordered and paid for 18 rigs and is committed to ordering up to 216 additional machines to be housed at the Texas site once the initial order has been satisfactorily completed. The facility is scheduled to go online by December 2022.
“Low prices in the bitcoin market have created a very attractive opportunity for us to initiate mining operations, while others who got in near the peak are heavily indebted and looking for an exit. It’s an ideal investment in our future.” ” commented Ryan Schadel. Managing Director at Metavesco. “We are taking a conservative approach by starting our mining initiatives with 18 drill rigs to ensure the new rig meets our expectations for an optimized cost/income ratio and will immediately commit additional capital for expansion upon validation.”
Separately, the company is in active discussions of a similar agreement at a Georgia facility. Texas and Georgia are favorable jurisdictions as they have both expressed a desire to have more crypto-related businesses.
“As I discussed in a recent Twitter Spaces interview, the drop in bitcoin prices has resulted in a significant drop in bitcoin mining equipment prices, currently down about 70 percent from January,” added Mr. Schadel. “We have already made investments in several blue-chip cryptocurrencies and are now accelerating our planned diversification of our revenue streams from staking, liquidity pools and NFTs by using this decline to add Bitcoin to our portfolio.”
The story goes on
The Twitter Spaces interview had more than 200 participants, touched on a wide range of topics from the state of the industry to Metavesco’s business model, and included a short question and answer session. Those interested can listen to the recording at: https://twitter.com/RadioSilentplay/status/1571871072655474694?s=20&t=FZqDu2dB7xYltCn=Fzdf_zQ
About Metavesco
Metavesco is a publicly traded Web3 company. The company generates revenue as a liquidity provider and invests in promising NFT projects and virtual land, mainly on EVM protocols.
Safe Harbor Declaration
This press release contains statements that constitute forward-looking statements. These statements appear at various locations in this press release and include all statements, other than statements of historical fact, regarding the intent, belief or current expectations of the Company, its directors or officers with respect to, among other things: (i) financing plans ; (ii) trends affecting its financial condition or results of operations; and (iii) growth strategy and operating strategy. The words “may”, “would”, “will”, “expect”, “estimate”, “may”, “believe”, “potential” and similar expressions and variations thereof are intended to identify forward-looking statements. Investors are cautioned that such forward-looking statements are not guarantees of future performance and involve risks and uncertainties, many of which are beyond the Company’s control and actual results could differ materially from those projected in the forward-looking statements as a result of various factors. Additional information regarding the potential factors that could affect its business and financial results is contained in the Company’s filings at sec.gov.
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SOURCE: Metavesco, Inc.
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