A Pennsylvania-based tech firm just announced the execution of a three-year colocation and hosting contract for cryptocurrency mining services with Compute North LLC, an industry leader in economical, efficient data center infrastructure for investors and large-scale clients in blockchain, cryptocurrency mining and high-performance computing, with three locations in the United States. Integrated Ventures Inc. (OTCQB:INTV) saw its shares soar following the news.
Integrated Ventures is engaged in acquiring, launching and operating companies in the cryptocurrency sector. The company is focused on activities such as digital currency mining, equipment manufacturing, and sales of branded mining rigs, as well as blockchain software development. It earns its cryptocurrency mining revenues by providing transaction verification services within the digital currency networks of cryptocurrencies, such as Bitcoin, Litecoin, and Ethereum.
Traders were bullish on the news as shares traded up to an early session high of $0.58/share (+23.4%) following the news. This move is a strong continuation of the multi-month uptrend that had previously been slowed by a pullback.