Integrated Ventures (INTV.OTC) started their two-year colocation and hosting contract for crypto-mining services with Wattum Management today, according to a press release.
Technically, the official operations launched on May 15, with 100 WhatsMiners connected and bringing in what the company hopes is $60,000 in monthly revenues. The facility is located in Kennerdel, Pennsylvania, with power being supplied by a power plant. The company anticipates this deal will help cut down on their mining operational costs, while maximizing and optimizing hash rate and providing growth and expansion.
Bitcoin being where it is right now, down 34% in the past month, we’ll see.
“The Company will benefit from 24/7 technicians that will handle the daily monitoring, troubleshooting, upgrades, firmware management and more. As a result, the deal is expected to reduce direct mining operational costs, maximize and optimize hash rate and provide growth and expansion opportunities for INTV,” says Steve Rubakh, CEO of Integrated Ventures.
Integrated Ventures operates as a tech holdings company focused on the crypto-sector. In contrast, Wattum Management is a New York based, privately-owned tech corporation responsible for colocation services, including cost efficient hosting, firmware design, mining equipment distribution and facilities management and mining pool operations.
A colocation center, also called a ‘carrier hotel’ apparently, is a type of data centre where equipment, space and bandwidth can be rented out to retail customers. These facilities include space, power, cooling and physical security for the server, storage and networking equipment, and connect all of this in a variety of telecommunications and network service providers to minimize both cost and complexity.
“Wattum Management offers a comprehensive, all-in managed service that helps facilitate an end-to-end hosting solution. With active miner management services, Wattum supervises miner efficiency and stability. The result is maximum performance and minimal downtime for clients, like INTV, who want to ensure their equipment keeps hashing for the best possible return on investment,” said Rubakh.
Colocation services are also a cheap way for cryptocurrency miners to outsource non-key tasks, and offload some of their overhead, including air conditioning costs, which is one of the biggest sources of headache for proof-of-work based operations.