GDET Announces Upgrade to Bitcoin Mining Operation
FORT LEE, NJ, May 13, 2019 (GLOBE NEWSWIRE) -- via NEWMEDIAWIRE -- GD Entertainment And Technology (OTC: GDET) (“GDET” or the “Company”) is excited to announce that the Company is working on a major migration and upgrade to its bitcoin mining operation.
Management has identified a more efficient, alternative mining pool with fees as low as half the current commission rate. The Company is also in the process of negotiating better terms for electricity rates, while researching alternate energy providers to help reduce overhead costs and yield higher profits.
The cryptocurrency market has experienced a rally with an influx of over $20 billion in the global market cap, with bitcoin surging over 33% all within the past week.
GDET CEO Anil Idnani commented, “Bitcoin and the major cryptocurrencies have slowly started to normalize into the mainstream markets due to its integration in payment platforms. With rumors of major retailers accepting cryptocurrency as a form of payment to Ohio accepting Bitcoin as a method to pay state taxes, we are seeing cryptocurrency being widely accepted in all different areas. I am very excited about this migration process and to have our miners being utilized at max capacity. The task is extremely meticulous but I plan on personally overseeing the process to completion.”
GDET shareholders can continue to expect frequent updates as the Company’s objectives proceed over the near term.
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 email@example.com www.gdet.co 1 Bridge Plaza 2nd Floor Fort Lee, NJ 07024