MONARCH BAY, CA / ACCESSWIRE / July 29, 2014 / Microelectronics Technology Corporation (PINKSHEETS: MELY), the Company is pleased to announce the successful installation of 100 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 is complete for Phase One.
The servers have been testing and mining over the installation period which was initiated approximately July 11, 2014 with a variable number of mining servers providing a variable hash rate over the testing period of approximately 18 days.
The mining activities to date have produced 37 BTC worth approximately $21,500.00.
The company has determined that the production rate per day of BTC production from the 100 TH/s is approximately 2.4 to 2.6 BTC per day based upon the current pool configuration. The company continues to fine tune the servers for maximum production and stability.
The Company will provide forecasts and future build out schedules for the Second Phase of expansion in the near future.
The Companies facility has been built to allow for a minimum 500 servers with further expansion capability to operate 1800 BTC Servers at maximum capacity.
Addition photos and video can be viewed at the company's Facebook page:
The company expects significant results from the BTC Pool Party mining pool once the 100TH/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.
Microelectronics Technology Co.
Mr. Brett Everett / President
SOURCE: Microelectronics Technology Co.