Investview Announces Expansion of Its Bitcoin Mining Farm Operation From Renewable Energy Sources of Hydro and Geothermal Energy
Investview, Inc, a diversified financial technology company that through its subsidiaries and global distribution network provides financial technology, education tools, content, research, and management of digital asset technologies with a focus on Bitcoin mining and the new generation of digital assets, announced that the company through its SAFETek subsidiary has entered a transaction to expand its Bitcoin mining farm operation through the purchase and planned deployment by the end of its third quarter of 1,705 new Whatsminer M30s ASIC mining servers.
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This expansion is intended to extend the Company’s initiative to use low-carbon and renewable energy sources in its mining operations. Once these new mining servers are fully deployed, SAFETek will have 99.50% of its mining operation operating from the latest generation and highest efficiency mining technology. This expansion is estimated to add over 100 Petahash per second to operational capacity extending SAFETek’s total operational hash rate capacity to an estimated 400+ Petahash per Second (equal to .400 EH/s Exahash per Second), representing a nearly 50% increase in operational hash rate to SAFETek’s online hash rate capacity.
”This equipment acquisition will expand the Company’s mining fleet operating at its Bitcoin mining farm in Europe which operates on close to 100% renewable energy sources of hydro and geothermal energy,” said Rob Walther, SAFETek’s EVP of Crypto operations. ”SAFETek has significantly reduced its energy and direct operational costs since relocating a majority of its miners to Europe, aided by the level of excess renewable energy sources and favorable climate conditions available from areas which have year-round average temperatures below 50 degrees F.”
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Added Victor Oviedo, Company CEO, ”As SAFETek evaluates its strategy for 2022-2023 and beyond, we are excited by the significant long-term opportunities created by the current market conditions. While we are mindful of the recent decrease in the price of Bitcoin below $22,000, on balance, we believe the buying opportunities this created for us to build infrastructure, as demonstrated by our recent purchase of additional Bitcoin miners, more than outweighs what we believe is the shorter-term potential negative impact on the industry caused by recent Bitcoin pricing volatility. We remain bullish on the longer-term value proposition associated with digital assets, and we view the recent volatility as an opportunity to expand strategically and competitively in the industry with lower acquisition costs for the latest generation and highest efficiency mining technology. This, in turn, has allowed us to opportunistically increase our hash rate which we expect to improve our financial performance over time.”
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