Business
GDET Announces Completion of Major Firmware Update to Bitcoin Mining Operation
GDET Announces Completion of Major Firmware Update to Bitcoin Mining Operation.
About this update from Gd Entertainment & Technology, Inc.
[{"type":"text","content":"\nFort Lee, NJ, May 14, 2019 (GLOBE NEWSWIRE) -- via NEWMEDIAWIRE -- GD Entertainment and Technology (OTC: GDET) (“GDET” or the “Company”) is excited to announce that the Company completed a major firmware update on all of their cryptocurrency machines.\n Management recently announced that the Company is looking to migrate to a new mining pool with better commission rates and higher profits through its Bitcoin payouts. In order to effectively integrate these machines, each unit has to be calibrated individually to the manufacturer’s latest software. Some of the features of this update include a reduction of hashrate/power consumption with better power efficiency as well as upgrading the security firmware feature.  As mentioned previously, 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. With the latest firmware update each machine should be consuming less power, which will provide a stronger business model in conjunction with a lower electricity rate. The cryptocurrency market is continuing to experience a serious rally, with bitcoin surging another 13%, bringing the value to over $8000. GDET CEO Anil Idnani commented, “I am very proud to announce that my team was able to complete this firmware update successfully on every one of our machines without any difficulties. This update is a crucial step in our migration process as well as a means to offset some of our overhead costs. As the cryptocurrency market continues to gain strong global support, we remain dedicated to our mining operation. I hope that this upgrade will be the first of many in an effort to scale to the next level.” GDET shareholders can continue to expect frequent updates as the Company’s objectives proceed over the near term. 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 ...