CEO Ryan Schadel Featured in Twitter Spaces Interview, Discusses Industry, Metavesco Business Model, and New Mining Opportunity
CUMMING, GA / ACCESSWIRE / September 21, 2022 / Metavesco, Inc. (OTC PINK:MVCO) today announced 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 run of multiple hosting sites the company has identified. The company has ordered and paid for 18 rigs and is committed to ordering up to an additional 216 machines to be hosted at the Texas site upon a satisfactory deployment of the initial order. The facility is expected to come online by December 2022.
"Low prices in the bitcoin market have created a very attractive opportunity for us to initiate mining operations while others that got in near the peak are over-leveraged and looking for an exit. It's an ideal investment in our future," commented Ryan Schadel, Chief Executive Officer at Metavesco. "We're taking a conservative approach by launching our mining initiatives with 18 rigs to ensure that the new facility meets our expectations regarding an optimized cost/reward ratio and will immediately deploy additional capital to expand upon validation."
Separately, the company is in active discussions for a similar arrangement at a facility in Georgia. Texas and Georgia are favorable jurisdictions as they both have expressed a desire to have more crypto-related businesses.
"As I discussed in a recent Twitter Spaces interview, the decline in bitcoin prices has resulted in significantly depressed prices for bitcoin mining equipment, to the tune of about 70 percent currently versus January," added Mr. Schadel. "We already have investments in several blue chip cryptocurrencies and are now accelerating the planned diversification of our revenue streams from staking, liquidity pools and NFTs by capitalizing on this dip to add bitcoin to our portfolio."
The Twitter Spaces interview had more than 200 attendees, touched on a broad range of topics from the state of the industry to Metavesco's business model, and included a short question and answer session. Interested parties are encouraged to listen to the recording at: https://twitter.com/RadioSilentplay/status/1571871072655474694?s=20&t=FZqDu2dB7xYltCn=Fzdf_zQ
About Metavesco
Metavesco is a publicly traded web 3 enterprise. The Company generates income as a liquidity provider and invests in promising NFT projects and virtual land, primarily on EVM protocols.
Safe Harbor Statement
This press release contains statements that constitute forward-looking statements. These statements appear in a number of places in this press release and include all statements that are not statements of historical fact regarding the intent, belief or current expectations of the Company, its directors or its 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", "can", "believe", "potential", and similar expressions and variations thereof are intended to identify forward-looking statements. Investors are cautioned that any such forward-looking statements are not guarantees of future performance and involve risks and uncertainties, many of which are beyond the Company's ability to control, and that actual results may differ materially from those projected in the forward-looking statements as a result of various factors. More information about the potential factors that could affect the business and financial results is included in the Company's filings on sec.gov.
CONTACT:
[email protected]
(678) 341-5898
SOURCE: Metavesco, Inc.