GDET Announces Upgrade to Cryptocurrency Mining Facility
01 July 2019 - 10:52PM
InvestorsHub NewsWire
GDET Announces Upgrade to Cryptocurrency Mining Facility
FORT LEE, NJ -- July 1, 2019 -- InvestorsHub NewsWire -- GD
Entertainment And Technology (GDET) (“GDET” or the “Company”) is
excited to announce that the Company has engaged Forest Hill
Electric to upgrade their cryptocurrency mining facility which
includes the installation of additional ASIC Bitcoin Miners and
ventilation systems.
GDET CEO, Anil Idnani, commented, “My team and company vision
has always supported the longevity and worldwide integration of
cryptocurrency. Not only have we seen a bullish spike in the market
cap of cryptocurrency and strong support levels but also major
announcements from companies like Facebook with the creation of
their own currency, Libra. I am looking forward to work with Forest
Hill Electric’s team once again to expand our facility and increase
our Bitcoin hashrate.”
Management has already prepared the ASIC miners for immediate
installation on site and is looking to upgrade the entire
ventilation system with the purchase of additional,
industrial-grade fans. Following the upgrade of the
facility’s electric capacity, Forest Hill Electric was able to
consult the Company on how to safely maximize the number of miners
available for installation. At present, the Company is working to
achieve the following near-term objectives:
- Installation of brand new ASIC Bitcoin Miners
- Installation of industrial-grade fans
- Integrate the miners to increase overall hashrate
- Engage third-party electricity providers to lower monthly power
costs
Forest Hill Electric CEO Mike Fiore added, “My team is looking
forward to upgrading this facility so that it can run at maximum
capacity in a safe and controlled environment. We are also happy to
announce that our company is officially working in house at the
GDET mining facility, which will allow us to provide special
attention to this project moving forward.”
GDET shareholders can expect new updates very soon as the
Company continues to execute an aggressive phase of operational
development and expansion.
About GDET
GD Entertainment & Technology, also known as GDET, focuses
on high growth industries to fulfill a diverse selection of premium
products nationwide. The company currently manufactures,
wholesales, and markets a portfolio of blockchain/financial
service-based products. GDET strives to become one of the premier
Cryptocurrency mining facilities that is client-focused and
dedicated to creating a new standard in the Blockchain space based
on security and transparency. GDET has also developed a strong
relationship with suppliers worldwide to ensure future purchasing.
The company currently has two subsidiaries, DreamCard and
HyperDigital Technologies, which both offer a selection of
transactional-based products and services. DreamCard allows users
to create a customizable debit or credit card using its state of
the art online platform. HyperDigital Technologies is the
Cryptocurrency ATM sector of GDET and aims to secure multiple MSB,
money services business, licenses in order to host ATM units
throughout the country.
Safe Harbor Provision Cautionary statement for purposes of the
"Safe Harbor" provisions of the Private Securities Litigation
Reform Act of 1995: Information in this news release contains
forward-looking statements that involve risks, uncertainties and
assumptions. If such risks or uncertainties materialize or such
assumptions prove incorrect, the results of the Company and its
consolidated subsidiaries could differ materially from those
expressed or implied by such forward-looking statements and
assumptions. All statements other than statements of historical
fact are statements that could be deemed forward-looking
statements. Risks, uncertainties and assumptions include the
execution and performance of contracts by the Company and its
customers, suppliers and partners. Please also review GD
Entertainment and Technology annual and quarterly financials for a
more complete discussion of risk factors. The Company disclaims any
obligation to update or revise statements contained in this news
release based on new information or otherwise. This communication
shall not constitute an offer to sell or the solicitation of an
offer to buy securities nor shall there be any sale of these
securities in any state in which such solicitation or sale would be
unlawful prior to registration or qualification of these securities
under the laws of any such state.
Contact:
GD Entertainment and Technology
732-851-3756
anil@gdet.co
www.gdet.co
1 Bridge Plaza
2nd Floor
Fort Lee, NJ 07024
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