Microelectronics Technology Corporation (OTC Pink: MELY) (PINKSHEETS: MELY), the Company is pleased to announce progress of beta testing of the company's BTC mining pool.
The first of three 1 TH/S servers has been added to the company's BTC Mining pool for the initial phase of beta testing. The beta testing is required to determine the production capabilities of the first of three initial 1 TH/s servers being added to the pool by the company with the additional two (1 TH/s servers) to be brought online upon delivery.
When these servers are online the company will continue to performance test all three production servers. Upon completion of satisfactory testing the company will initiate ordering the next ten servers as previously announced.
The company will order ten servers every two weeks, subject to availability and delivery, until the total of 100 TH/s has been achieved.
This will be the first phase of the company's initial BTC Mining business plan.
"We are very pleased with the progress made to date regarding the establishment and launch of the company's BTCMining Pool," stated company president Brett Everett. "The company expects to continue to meet the milestones of progress it has established for the development of the 100 TH/S BTCMining Pool as phase one of the company's BTC Development plans."
The company's BTCMining Pool can be found @:
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.
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.
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.
Mr. Brett Everett
SOURCE: Microelectronics Technology Company