|By Marketwired .||
|July 11, 2014 01:39 PM EDT||
MONARCH BAY, CA -- (Marketwired) -- 07/11/14 -- Microelectronics Technology Corporation (OTC Pink: MELY) (PINKSHEETS: MELY) - The Company is pleased to announce the successful installation of over 50 of the Company's 100 - 1 TH/s BTC servers in the Company's new data center in Washington State.
The construction and build out of the Data center has taken longer than the Company had originally projected however the final stages of construction are finishing and the installation of servers is ongoing.
The Company expects that all 100 BTC servers will be up and operational, BTC mining early next week. Once this facility is operational the company will then apply all 100 TH/s BTC Mining to the company's BTCpoolparty mining pool. https://www.btcpoolparty.com/index.php
When all 100 servers are online the BTCpoolparty mining pool, the company expects that the true mining capability of the mining pool will be demonstrated.
Upon the successful transition and demonstration of the BTCpoolparty mining pool capabilities the Company will move to acquire the next 100 1TH/s BTC servers for the next phase of expansion.
The Company's facility has been built to allow for a minimum 500 servers with further expansion capability to operate 1800 BTC Servers at maximum capacity.
"It is the Company's intention to continue to expand to meet the facilities maximum potential over the next 12 months," states Company President Brett Everett. "We are very excited about the exponential potential of Microelectronics Technology within the BTC Mining industry."
The company expects significant results from the BTCpoolparty mining pool once the 100 TH/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.
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