FORT LEE, N.J., April 18, 2018 (GLOBE 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:

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


GD Entertainment and Technology
1 Bridge Plaza
2nd Floor
Fort Lee, NJ 07024