|By Marketwired .||
|June 25, 2014 02:10 PM EDT||
MONARCH BAY, CA -- (Marketwired) -- 06/25/14 -- Microelectronics Technology Corporation (OTC Pink: MELY) (PINKSHEETS: MELY) previously announced it had ordered one hundred, 1TH/s BTC mining servers. The Company is pleased to announce it has received all one hundred servers and is currently in the process of deploying a portion of them to the data center in the Vancouver, Canada area.
The company has also been building out its own data center in Washington State which is anticipated to be operational July 11, 2014 or earlier. This facility, once completed and operational, will allow for the company to expand up to five hundred (500) BTC Mining Servers in one facility. Once this facility is operational the company will then apply all 100TH/s BTC Mining to the company's BTCpoolparty mining pool. https://www.btcpoolparty.com/index.php
The company will be installing and testing all 100-1TH/s BTC Servers during this time period to determine power consumption and hash rate consistency. These 100 servers are reported by the manufacturer to be 25% more power efficient than the previous servers the company has currently online.
The company expects significant results from the BTC Pool Party mining pool once the 100TH/s have been installed and are operational.
This news release includes forward-looking statements made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. While these statements are made to convey Company progress, business opportunities and growth prospects, readers are cautioned that such forward-looking statements represent management's opinion. Whereas management believes such representations to be true and accurate based on information and data available to the Company at this time, actual results may differ materially and are subject to risk and uncertainties. Factors that may cause actual results to differ include without limitation: dependence on key personnel and suppliers; MELY's ability to commercialize its technology; ability to defend intellectual property; material and component costs; competition; economic conditions; consumer demand and product acceptance, and availability of growth capital. Additional considerations and risk factors are set forth in reports filed on Form 8-K and 10-K with the SEC and other filings. Readers are cautioned not to place undue reliance upon these forward-looking statements; historical information is not an indicator of future performance. The Company undertakes no obligation to update publicly any forward-looking statements.