CUMMING, GA / ACCESSWIRE / December 18, 2023 / Metavesco, Inc. (OTC PINK:MVCO), a web3 enterprise and digital asset innovator, is pleased to summarize the company's progress in 2023; a transformative year for the company. The company has executed on several key acquisitions which are expected to significantly improve the company's revenue growth in 2024. Additionally, the company secured $650 Thousand in non-dilutive financing and remains committed to its efforts in web3 and digital asset innovation. In September of this year, the company executed a 10:1 forward split to enhance shareholder value and improve the share structure. Metavesco will transition into the new year with the closing of the LaborSmart and Epic Labor acquisitions; the company's largest acquisitions to date.
Ryan Schadel, CEO of Metavesco Inc., stated, "Our commitment to building on the blockchain is greater than ever. The recent surge in Bitcoin and alternative cryptocurrencies has strengthened our belief in the long-term growth potential. The time is now to be at the forefront of these technologies."
Laborsmart & Epic Labor Acquisitions
The acquisition of LaborSmart and Epic Labor assets will take effect simultaneously on January 1st, 2024. This acquisition includes nearly 5000 current and formerly active clients. Laborsmart has served notable clients such as the Kansas City Chiefs and Kansas City Royals. These assets are expected to significantly bolster Metavesco's revenue. Additional information will be released upon these acquisitions taking effect.
Bitcoin Mining
Metavesco recently completed the acquisition of a total of one hundred Bitmain Antminer S19k Pro ASIC units. The Bitmain Antminer S19k Pro is the latest in cutting edge Bitcoin ASIC mining technologies. Released in September of 2023, the S19k Pro delivers highly competitive performance and enhanced profitability, boasting an impressive hash rate of 120 tera hashes per second. These models are rapidly becoming the industry standard and have already been adopted for use by major companies in the industry such as HIVE Digital Technologies. The acquisition of these units immediately positions Metavesco to be highly competitive and scalable in the Bitcoin mining environment.
In 2024, the company expects to significantly ramp up its Bitcoin mining operations. Metavesco continues to seek additional non-dilutive financing for future acquisitions of ASIC units. By the end of 2024, the company aims to achieve a net hash rate of 50 Ph/s, more than triple its current hash rate of 14.2 Ph/s. Metavesco intends to accumulate and leverage its Bitcoin holdings.
Boring Brew
Acquired in the first half of 2023, Boring Brew continues its efforts in bridging NFT projects with the beverage industry. Boring Brew delivers freshly roasted coffee blends and ready to drink cold brews. Boring Brew leverages and partners with NFT related intellectual properties to create uniquely branded and packaged premium coffee products. The company has executed on two successful partnerships with two high profile NFT projects and is currently in negotiations for additional partnerships.
In November, 2023, Boring Brew was accepted by Walmart for online retail sales. The products are currently available for sale at Walmart.com. The company anticipates expansion to additional online retailers such as Amazon in 2024.
Liquidity Pools & Staking
Metavesco continues to seek revenue opportunities providing liquidity to decentralized exchanges as well as staking Proof of Stake digital assets. The company continues to identify and evaluate additional opportunities in Proof of Stake blockchains including Solana, Ethereum, and Chainlink.
About Metavesco
Metavesco is a web3 enterprise and digital asset innovator. The Company generates revenue as a crypto liquidity provider via decentralized exchanges such as Uniswap, and the Company farms tokens via Proof of Stake protocols. The Company has bitcoin mining operations at hosted facilities in TX and KY. The company also invests in promising NFT projects and virtual land including OthersideMeta. Through its wholly owned subsidiary, the Company operates Boring Brew, a specialty coffee company utilizing owned and licensed NFT IP as unique packaging.
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 otcmarkets.com.
CONTACT:
info@metavesco.com
(678) 341-5898
SOURCE: Metavesco, Inc.
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