Ifaistos Lemnou was then officially created on 25 October 2017, under the ownership of Pantelis Boumbouras, and being based in Myrina, on the Greek island of Lemnos.

The club played its first official game against Peristeri, on 3 October 2018, in the Round 16 phase of the Greek Cup.

The club played its home games at the 1,260 seat capacity Nikos Samaras Indoor Hall, which is located in Myrina, on the Greek Island of Lemnos.

The arena is named after the late Greek volleyball player Nikos Samaras.

[7][8] Note: Flags indicate national team eligibility at FIBA-sanctioned events.