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FORT LEE, NJ, May 30, 2019 (GLOBE NEWSWIRE) -- via NEWMEDIAWIRE -- GD Entertainment & Technology is excited to announce that the Company has completed its migration to a new cryptocurrency mining pool and is running at full capacity.
Management recently announced that all of its active cryptocurrency mining machines were updated to the latest firmware which features a reduction in hashrate power consumption with better power efficiency as well as upgraded security features. The new mining pool is also fully integrated with major cryptocurrency exchanges, which means the user can seamlessly send and trade the cryptocurrency reward payouts in real time market conditions. With lesser transaction and payout times/restrictions, the flexibility of converting the cryptocurrency can become more favorable.
The $275 billion cryptocurrency market is continuing to experience a serious rally with bitcoin surging another 12% bringing the value to over $8600.
GDET CEO Anil Idnani commented, “I am very proud to announce that my team was able to complete this migration on every one of our machines without any difficulties. We are already experiencing a higher total operating hashrate than the previous mining pool our machines were integrated with. The upgrade in firmware and new mining pool allows the operation to run at full capacity during this crypto rally and I look forward to seeing what new barriers Bitcoin and cryptocurrencies break next.”
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.