MONARCH BAY, CA, United States, via ETELIGIS INC., 05/29/2015 – – Microelectronics Technology Company (OTC Pink: MELY) (PINKSHEETS: MELY) announces pending planned expansion in its Bitcoin server mining operation.
The Company is moving forward in the next phase of its planned expansion of its Bitcoin mining operation, as it has entered into a letter of intent to acquire electricity at the lowest price available to a bitcoin mining operation in the United States.
The letter of intent outlines up to 10 Mega Watts of electrical power dedicated specifically to the needs of Microelectronics Technology Company. The electrical rate for this power averages 2 cents per kilowatt, the lowest rate in the Country. The electrical provider rates reliability of the electrical power at 99.99%.
“With this amount of electrical power available to the Company we can now move forward with our expansion plans of a site designed and constructed with a bitcoin mining operation in mind.”, stated Brett Everett, President of the Company. “With the new chip technology coming to the market, this also increases the amount of Hash Rate the Company can run with 10 Mega Watts of electrical power, providing us with some very unique options.”
The timing for finalization for delivery of the contract for the power is June 16, 2015 in accordance with the terms outlined in the Letter of Intent.
Additional photos and videos can be viewed at the company’s Facebook page:
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 Company
Mr. Brett Everett
888-681-9777 ext. 5
SOURCE: Microelectronics Technology Company