Integrated Ventures, a US mining company, has total revenue of US$1.87 million in fiscal year 2021, up 311% year-on-year

On August 24, the US cryptocurrency mining company Integrated Ventures released its annual report for fiscal year 2021 (unaudited). The total revenue for fiscal year 2021 reached US$1.87 million, a year-on-year increase of 311%. More than 75% of the revenue came from the third and fourth quarters.

In addition, the company's mining gross profit in fiscal year 2021 was approximately $950,000, with a gross profit margin of 50%. The company said that the increase in revenue and gross profit was due to the deployment of high-performance mining equipment and cheap electricity costs. In terms of assets and liabilities, the company has approximately $2.1 million in available cash on its account and holds digital currencies with a total value of approximately $250,000. In terms of operations, the company will receive the first batch of 200 mining machines from Bitmain and 200 mining machines from Canaan Technology around the end of August.