Microelectronics Technology Corporation Secures Bitcoin Mining Server Supplier

Microelectronics Technology Corporation Secures Bitcoin Mining Server Supplier

Microelectronics Technology Corporation (OTCBB: MELY) (OTCQB: MELY), is pleased to announce the Company has negotiated with a Bitcoin equipment supplier for the acquisition of the 100 Th/s Bitcoin Mining servers.

The agreement calls for the initial delivery of three (1TH/s servers) Bitcoin mining servers to the companies Dynamo server co-location facilities for installation and testing.

Upon the determination of the performance abilities of the servers and the power consumption profile has been established, the company has agreed to take delivery of ten (1 TH/s servers) every two weeks for the next twenty weeks.

Upon completion the company will have established the planned first phase 100 TH/S BTC Mining Center by September 1, 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 establishment of a consistent and reliable supplier of Bitcoin mining servers is such a significant key to the company's success that we have made the consistent supply as our first priority," states company president Brett Everett. "The company is very pleased with the supply negotiations to date and looks to take delivery of the first three (1TH/s servers) within the next two weeks."

The Company acquisition remains on schedule with the closing date of April 18, 2014.

About Dynamo Servers

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.

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.

Dynamo Servers

Forward-Looking Statements
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.

Related News

Aria PC Technology Becomes Latest Computer Supplier to Accept Bitcoin

Major UK-based PC component and hardware supplier Aria PC Technology is now accepting bitcoin for payments. Aria was established more than 20 years ago, though its focus has shifted over the years from brick-and-mortar operations to e-commerce. The e-tailer began accepting bitcoin on 7th February, choosing to mention the news as an aside in a Twitter post announcing the launch of the new Gladiator Mining Frame. Introducing the Aria Bitcoin Mining Frame... plus... we are accepting Bitcoins as payment from Monday! http://t.co/wUxZTP3wQ3. - Aria PC Technology (@Aria_Technology) February 7,....

Marathon Secures 254 Megawatts to Bolster Company’s 2023 Bitcoin Mining Goals

The bitcoin mining operation Marathon has announced the company has secured 254 megawatts of new hosting deals with the option to increase to 324 megawatts (MW). Marathon’s latest expansion deals should support the bitcoin mining firm’s intended goal of securing approximately 23.3 exahash per second (EH/s). Marathon Secures 254 MW of Bitcoin Mining Capacity — Firm Aims to Have 23.3 EH/S by 2023 The publicly-listed bitcoin miner Marathon (Nasdaq: MARA) has obtained 254 MW of hosting arrangements, with the option to increase to 324 MW, from a few different....

Hive Blockchain Secures Order for 6,500 Next-Generation Bitcoin Miners From C...

On October 29, the publicly listed firm Canaan announced the mining manufacturer has secured a follow-on purchase order from the mining operator Hive Blockchain for 6,500 units of Canaan’s next-generation Avalon mining rigs. Hive expects to increase the operation’s hashrate from 1.2 exahash per second (EH/s) to 3 EH/s by March 2022. Hive Secures an Order for 6,500 Avalon Miners This week the Nasdaq-listed Hive Blockchain (Nasdaq:HIVE) and Canaan (Nasdaq: CAN) announced that Hive secured a follow-on purchase order for 6,500 Avalon miners from Canaan. According to the....

Hackers Attack Script.cc Following Server Upgrade: Mining Site Expects To Resume

Hacking attacks occur at the least opportune times. Script.cc, a mining site, ran a server upgrade and later found its database had been breached. The company hopes to be up and running soon after moving to a new server following the attack that emptied its wallet. Script.cc recently posted a notice advising customers they are running audits on all accounts and once the accounts have been verified, account holders will be able to log in. ETA: June 30. "Our ETA stands at June 30th if everything runs smoothly, once we 'relaunch' all user balances will be available for withdraw," the recent....

Analyst Says Duke Energy Corporation Is Studying Bitcoin Mining Applied to De...

According to the lead rates and regulatory strategy analyst at Duke Energy Corporation, the second-largest U.S. energy corporation is currently studying bitcoin mining. Lead analyst Justin Orkney said that a bitcoin demand response (DR) study was being worked on and the energy firm is partnered with bitcoin miners that are enrolled in Duke’s DR programs. The Second Largest U.S. Energy Corporation Is Researching Bitcoin Mining The latest “Bitcoin, Energy and the Environment” podcast with Troy Cross, called “Duke Energy is studying bitcoin,”....