FORT LEE, N.J., June 05, 2018 (GLOBE NEWSWIRE) — GD Entertainment And Technology (OTC:GDET) (“GDET” or the “Company”) is excited to announce the opening of the Company’s New Jersey based headquarters to host its first Bitcoin and Cryptocurrency mining operations.
The commercial space boasts 5,000 square feet of prime real estate in the tri state area, which has been retrofitted as a hospitable environment for Cryptocurrency mining, and corporate headquarters. At present, the Company is working to achieve the following short term objectives:
- Secure permit for buildout of the commercial space.
- Test run of bitcoin mining equipment.
- Secure permit for heavy power upgrades to accommodate more machinery.
- Build a high-quality air filtration system to host heavy power conditions.
The Company plans to use this facility to host the Cryptocurrency machines (Bitmain S9 T9 A3 Avalon 821) it has in stock and additional units it secures from overseas suppliers. Management is working with their strategic partners overseas to deliver dozens of cryptocurrency mining rigs and additional resources into the cryptocurrency mining space.
The New Jersey office will serve as a colocation service to capitalize on growing enthusiasm for Crypto Mining with high efficiency equipment and expertise. The facility is also scalable to reach an exponential level of output to support an excess of 1,000 standard mining rigs (Bitmain S9 T9 A3 Avalon 821).
GD Entertainment & Technology, also known as GDET, is a result driven, blockchain-oriented company focused on becoming a premier Cryptocurrency mining facility. GDET will build and manage a Cryptocurrency mining colocation and mining facility 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 overseas to ensure future purchasing.
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.