GDET Lays Out Initial Path Toward Bitcoin and Cryptocurrency Mining Operations
April 18 2018 - 7:53AM
InvestorsHub NewsWire
GDET Lays Out Initial Path Toward
Bitcoin and Cryptocurrency Mining
Operations
Fort Lee, NJ -- April 18, 2018 -- InvestorsHub
NewsWire -- GD Entertainment And Technology (OTC: GDET) (“GDET” or the
“Company”) is excited to announce the Company’s near-term plan of
action in the context of its larger mission and business
model.
The Company is in the process of setting up
first-class cryptocurrency mining and colocation facilities in the
greater New York metropolitan tri-state area (New Jersey, New York,
and Connecticut) that will provide platform-based client access to
high-capacity, high-efficiency cryptocurrency mining resources, as
well as forming the basis for the Company’s own in-house mining
activities. The Company has launched its initial website with
detailed information on its business plan and plans to greatly
expand details on its site in the coming weeks. The site can be
found here: www.gdet.co
At present, the Company has established
strategic partnerships with overseas equipment suppliers and,
through those partners plans to secure dozens of cryptocurrency
mining rigs (Bitmain S9 T9 A3 Avalon 821).
The
Company will be deploying additional resources toward the following
critical near-term objectives:
- Secure commercial space to house high-quality
data center
- Secure permits to power initial data
center
- Locate suitable additional commercial space to
massively expand cryptocurrency mining
capacity
- Work
with established overseas strategic partners to secure large order
of new mining rigs
Management believes this is an ideal time to
begin deploying capital and resources into the cryptocurrency
mining space.
Cryptocurrency mining is centered on the process
of validation of transactions in a cryptocurrency network.
Computational power is contributed to processing in exchange for
new coins or tokens, which can be stored, spent, or exchanged for
other coins or units of fiat currency, such as US
Dollars.
Anil Idnani, GDET CEO, commented, “While there are many tokens and coins accessible to
miners, Bitcoin remains the dominant force shaping market sentiment
across the cryptocurrency market landscape. So far this year, the
price of Bitcoin has undergone a healthy and necessary corrective
process to reset prices back to levels that the Company believes
may be sustainable and may form the launching point for the next
wave of enthusiasm and appreciation. Looking ahead, that suggests a
coming potential increase in both the raw profitability of
cryptocurrency mining as well as demand for platform-based
‘plug-and-play’ access to mining resources for
entrepreneurs.”
Recent research suggests that increasing
mainstream public interest in cryptocurrencies and cryptocurrency
mining may lead to more than 6,000% growth in the overall size of
the cryptocurrency mining market by 2025. GDET has begun to take
aggressive steps to place the Company ahead the curve in the race
to harness this growth through a diversified revenue stream
model.
Shareholders can expect new updates very soon as
the Company begins to tackle its initial
objectives.
About GDET
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
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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