Microelectronics Technology BTCPool Beta Testing Update
May 16 2014 - 2:30PM
Marketwired
Microelectronics Technology BTCPool Beta Testing Update
MONARCH BAY, CA--(Marketwired - May 16, 2014) - Microelectronics
Technology Corporation (OTC Pink: MELY) (PINKSHEETS: MELY), the
Company is pleased to announce progress of the company's BTC Mining
activities.
The Company continues the testing the first of three 1 TH/s
servers. The delivery of the two additional 1 TH/s servers is
expected on May 20, 2014. During this initial testing phase the
company is determining the BTC production capabilities and power
consumption, a key component in determining the economic viability
of the server.
During this phase the company has temporarily moved its first 1
TH/s server to the BTC
Guild mining pool and is operating under Identity number :
547125 and is ranked at number 1172 based on the current
mining hash rate.
The company will move the three 1 TH/s servers back to the
company's BTCmining pool upon completion of testing.
https://www.btcpoolparty.com/index.php
The 1 TH/s server has operated on the BTC Guild mining pool for
approximately 84 hours and produced 0.34 BTC to date.
This testing phase indicates that the 1 TH/S server should
produce BTC in the range of 0.0549 to 0.0971 per 24 hour period per
server.
The company anticipates that the increase in the number of
servers will provide for a higher yield per server per 24 hour
period.
The company has confirmed that the 2 additional 1 TH/s servers
are shipped and will be delivered by Tuesday, May 20, 2014
Upon delivery the two additional 1TH/s servers will be tested in
similar fashion prior to ordering the next ten 1 TH/s servers.
The delivery time for the servers has varied to date however the
company is confident that the delivery schedule will stabilize with
the order of additional servers on a regular basis. The company is
pleased that it has secured a consistent supply of BTC Mining
servers that deliver on schedule.
The company will be providing updates on the BTC Mining beta
testing results on a regular basis.
The company's BTCMining Pool can be found @ :
https://www.btcpoolparty.com/index.php
Bitcoin Mining:
BTC The company is in development of a 100 TH/s mining
pool.
The company will be investing in the required hardware needed to
provide the targeted 100 TH/s rate over the period of six to eight
months.
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.
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
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 info@melypk.com
www.melypk.com www.dynamoservers.com
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