SOURCE: Microelectronics Technology Company

Microelectronics Technology Corporation Provides Update Regarding Acquisition of Bitcoin Cyber Currency Digital Mining Company

Microelectronics Technology Corporation (OTCQB: MELY), the Company previously announced:

 

"Company has completed the documentation required for the finalization of the acquisition of Digital Mining Corporation and its digital mining assets.

 

Complete Acquisition details will be provided on form 8K yet to be filed."

 

THE COMPANY WILL FILE FORM 8K WITHIN FOUR DAYS OF THE EFFECTIVE DATE IN COMPLIANCE WITH SEC REQUIREMENTS.

 

In response to an overwhelming number of requests for information regarding the acquisition. The company is providing an update for the timing of the filing of the Form 8K.

 

Contained in the language of the acquisition agreement, is an effective date clause which provides for a stipulation to the closing, at the company's option, until after the successful launch of the companies BTCMINING POOL due to be launched May 1, 2014 subject to server availability.

 

THE COMPANY WILL FILE FORM 8K WITHIN FOUR DAYS OF THE EFFECTIVE DATE IN COMPLIANCE WITH SEC REQUIREMENTS.

 

"The Company has negotiated in good faith for the acquisition of this company and its assets and intellectual property," states company president Mr. Brett Everett. "It is in the best interest of the company and its shareholders to determine that the technology and intellectual property being acquired operate as represented, with the functionality the company expects and requires."

 

Bitcoin Mining: BTC
The company is in development of a 100 TH/s mining pool.
The company will be investing in the required hardware needed to provide the targeted 100 TH/s rate over the period of six to eight months.
The company will be operating this cyber currency mining center in an open pool configuration allowing other miners to join the pool for a proportional percentage share of the mining pool production.

 

The company anticipates the launch of its Bitcoin Mining pool May 1, 2014.

 

The company will add the first 3 (1TH/S servers) Bitcoin Mining Servers to the mining pool upon completion of the initial testing, with the addition of 10 (1TH/s servers) every two weeks contingent upon consistent delivery of the servers from our supplier.
The company will be operating this cyber currency mining center in an open pool configuration allowing other miners to join the pool for a proportional percentage share of the mining pool production.

 

About Dynamo Servers
Dynamo Servers provide dedicated servers to clients through our point of presence in Vancouver, Canada inside a carrier neutral facility owned and operated by Cologix Inc.
www.dynamoservers.com

 

Forward-Looking Statements:

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

 

For further Information:
Microelectronics Technology Co.
President:
Mr. Brett Everett
1-949-436-9382
info@melypk.com

www.melypk.com
www.dynamoservers.com

 

 

SOURCE: Microelectronics Technology Company