|By Marketwired .||
|May 1, 2014 03:40 PM EDT||
MONARCH BAY, CA -- (Marketwired) -- 05/01/14 -- Microelectronics Technology Corporation (OTC Pink: MELY) (PINKSHEETS: MELY) is pleased to announce the status of the company's BTC Digital Mining Pool.
The BTC Mining Pool URL is: https://www.btcpoolparty.com/index.php
"At present the entire Bitcoin mining pool front end and backend is complete and is now in the processing of finishing its Bitcoin block chain synchronization. Stratum is up and running and sitting in sleep mode until the block chain is complete and our Avalon based test mining units are ready to start beta tests imminently." Stated company president Brett Everett, "the company expects to begin the Beta testing phase today, May 1, 2014 which will take a few days to complete and integrate the first of three, 1TH/s servers."
The Company previously announced April 17, 2014:
"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."
The company anticipates that https://www.btcpoolparty.com/index.php pool will be open to allow other miners to join and participate in BTC Mining after the completion of the BETA testing phase.
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.
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
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