SOURCE: Microelectronics Technology Company
MONARCH BAY, CA--(Marketwired - May 23, 2014) - Microelectronics Technology Corporation (OTC Pink: MELY) (PINKSHEETS: MELY): The Company is pleased to provide an update of the Beta Testing of the company's BTC Mining Pool: https://www.btcpoolparty.com/index.php
The company has targeted to end the Beta testing phase of the company's BTC Mining Pool: BTCpoolparty on Tuesday May 27, 2014.
Testing has gone as predicted with hash rates per machine and collectively as a group within acceptable performance parameters. Power consumption per machine is also within an acceptable range which will allow the company to forecast operating expenses during the build out of the first phase of 100 TH/s BTC mining capability.
The company is currently preparing to order the first set of servers which will be finalized following the conclusion of beta testing approximately May 27, 2014.
The company upon finalization of the first order will have delivery time lines established for consistent delivery of new mining servers allowing the company to forecast its expansion schedule with performance milestones to be established at that time.
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