Investview Inc. (OTCMKTS:INVU) was down 10% after the company announced its operational and production updates, including unaudited BTC production for October 2021.
Trading Data
On Tuesday, INVU stock fell 10.56% to $0.0800 with more than 2.68 million, compared to its average volume of 1.37 million shares. The stock has moved within a range of $0.0780 – 0.0920 after opening the trade at $0.0910.
Major Development
Gross revenue in October was up 186% YoY to $2.5 million, while gross profit jumped 381% Yoy to $1.9 million with a gross profit margin of 77%. Over the 18 months ended October 2021, the company mined more than 1,167.56 BTC, and the company held 49.13 BTC and 74,706.12 NDAU at the end of October.
SAFETek has announced a strategic relocation of about 1,500 BTC ASIC miners to an advanced quality and almost 20% lower hosting cost. Equally, SAFETek relocated and consolidated about 3,000 mining servers from the current mining facilities across the globe to its latest and recently enhanced BTC Mine Repair facility located in Texas. EVP Crypto operations Rob Walther said that the relocation of the 1,500 mining servers to a new, low-cost facility is in progress and will be finalized towards the end of November. Once complete, it will improve the gross profit associated with the miners by almost 20%. So in the coming weeks, investors should watch INVU.
Key Quote
Rob Walther, SAFETek’s EVP of Crypto operations commented that, “the relocation of 1,500 of our existing miners to a new and lower cost facility is currently in progress and expected to be completed by late November 2021. When complete, this move is expected to increase the related gross profit generated by these miners by an estimated 20%. In addition, we are now fully leveraging our new and recently expanded Bitcoin Mining Repair Facility in Texas to clean, refurbish and further optimize nearly 3,000 of our Bitcoin miners back into production. Given the high price and global challenges with obtaining brand new Bitcoin mining servers, SAFETek has decided to aggressively focus on the maintenance and optimization of our existing fleet of Bitcoin miners through our new repair facility. This will be a faster and much lower cost option to maintain and increase our hashrate.”
Technical Data
INVU stock is trading below the 20-Day and 50-Day Moving averages of $0.1039 and $0.1216 respectively. Moreover, the stock is trading below the 200-Day moving average of $0.1885. The stock is down 55% in the past 3-month.
