MONARCH BAY, CA, Apr 16, 2014 (Marketwired via COMTEX) -- 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."
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