Microelectronics Technology Corporation Acquires Bitcoin Cyber Currency Digital Mining Company
April 03 2014 - 1:20PM
Marketwired
Microelectronics Technology Corporation Acquires Bitcoin Cyber
Currency Digital Mining Company
MONARCH BAY, CA--(Marketwired - Apr 3, 2014) - 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.
www.dynamoservers.com
About Cloud Data Corp Cloud Data, a Nevada Corporation provides
high availability dedicated web servers to small, medium and large
companies under its brand www.dynamoservers.com.
www.clouddatacorp.com www.melypk.com www.dynamoservers.com
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
For further Information: Microelectronics Technology Co.
President: Mr. Brett Everett 1-949-436-9382
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