Yahoo Finance Investview (“INVU”) Announces Expansion of Its Bitcoin Mining Farm Operation From Renewable Energy Sources of Hydro and Geothermal Energy - Operational Hash Rate Expected to grow by Nearly 50% to Over 400 PH/s Per Second
Eatontown, NJ, Aug. 04, 2022 (GLOBE NEWSWIRE) -- Investview, Inc. (OTCQB: INVU), 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 today 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. 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.''
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.”
About Investview, Inc.
Investview, Inc., a Nevada corporation (which we refer to as “we,” “us,” “our,” “Investview,” or the “Company”), a financial technology (FinTech) services company, operates several different businesses, including a Financial Education and Technology business that delivers a series of products and services involving financial education, digital assets and related technology, through a network of independent distributors; a Blockchain Technology and Crypto Mining Products and Services business including leading-edge research, development and FinTech services involving the management of digital asset technologies with a focus on Bitcoin mining and the new generation of digital assets; and a Brokerage and Financial Markets business that is currently in the early stages but plans to expand within the investment management and brokerage industries by commercializing on the proprietary trading platform we acquired in September 2021. For more information on Investview, please visit: www.investview.com.
Forward-Looking Statement
All statements in this release that are not based on historical fact are "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. Forward-looking statements, which are based on certain assumptions and describe our future plans, strategies, and expectations, can generally be identified by the use of forward-looking terms such as "believe," "expect," "may,” “should," "could," "seek," "intend," "plan," "goal," "estimate," "anticipate" or other comparable terms. These forward-looking statements are based on Investview’s current beliefs and assumptions and information currently available to Investview and involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance, or achievements of the Company to be materially different from any future results, performance or achievements expressed or implied by these forward-looking statements. Statements made by the Company regarding the operating speed and capacity of its mining servers are based solely on the Company’s reliance on manufacturer’s technical specifications. More information on potential factors that could affect Investview’s financial results is included from time to time in Investview’s public reports filed with the U.S. Securities and Exchange Commission (the “SEC”), including the Company’s Annual Report on Form 10-K for the year-ended December 31, 2021, Quarterly Reports on Form 10-Q, and Current Reports on Form 8-K. The forward-looking statements made in this release speak only as of the date of this release, and Investview, Inc. (“INVU”) assumes no obligation to update any such forward-looking statements to reflect actual results or changes in expectations, except as otherwise required by law.
Investor Relations
Contact: Ralph R. Valvano
Phone Number: 732.889.4300
Email: pr@investview.com
