Microelectronics Technology Corporation Acquires Bitcoin Cyber Currency Digital Mining Company
Microelectronics Technology Corporation (OTCBB: MELY) (OTCQB: MELY), is pleased to announce the Company has entered completed negotiations for the acquisition of an established digital mining company and its digital mining assets. The acquisition is now subject to final formal documentation to be completed by April 18, 2014.
The acquisition includes the existing operational digital mining servers and support software. The Digital Currency Mining servers are currently being transitioned to the Dynamo Server co-location facilities with the transition expected to be completed by month's end. This transition will allow for peak efficiency utilizing the state of the art server facility and seamless expansion capability Dynamo servers can provide.
Bitcoin Mining: BTC
Upon the completion of the Digital Mining Server installation at the Dynamo Server co-location facilities, the company will begin to offer fractional Bitcoin Digital Currency Mining server rentals to interested third parties for an annual fee based upon the hash rate available for partitioning.
It is anticipated that the partitions will be available for lease in minimum 20 Gh/s hash rates with any multiple of 20 Gh/s available.
"The acquisition of a Bitcoin Digital Currency Mining Corporation is an exciting development for Microelectronics Technology Co for several reasons," states company president Brett Everett.
"With this acquisition the company is acquiring a new customer for the Dynamo Server division creating a vertical with significant growth potential at the same time entering into the dynamic Bitcoin arena with a business model that creates opportunity for entry level investors to participate in Bitcoin mining with limited financial exposure." The company expects to announce the completion of formal documentation by April 18, 2014.
The Dynamo Servers platform was built from the ground-up to accommodate the needs of modern dedicated server customers, with features that are unique to the market. A simplified pricing model was applied to an expansive configuration system, allowing for predictable pricing without the customization limitations or penalties that are common among providers. An API was built to allow for integration with custom software and 3rd-party services. Social features were added to enable a dialogue among customers and a level of transparency unheard of in the industry. As long-time dedicated server customers, the people behind Dynamo Servers built a platform that they would want to use themselves.
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.
About Cloud Data Corp
Cloud Data, a Nevada Corporation provides high availability dedicated web servers to small, medium and large companies under its brand http://www.dynamoservers.com/
About Cloud Data Corp
Microelectronics Technology Corporation
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