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Share Name | Share Symbol | Market | Type |
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Snap Inc | NYSE:SNAP | NYSE | Common Stock |
Price Change | % Change | Share Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
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Miami, FL -- January 09, 2018 -- InvestorsHub NewsWire -- Miami-based United Blockchain Corp a wholly owned subsidiary United American Corp ("UnitedCorp"), (OTC: UAMA) announced today that it has acquired its first data center facility in the Mile End neighbourhood of Montreal, Quebec Canada which it will operate through a newly created mining division; Blockchain Data Centers Inc.
The leased facility which has capacity for 50 mining rigs is fully built out and will be ready to start hosting GPU-based mining servers within the following weeks. UnitedCorp recently completed experimental testing on its own custom designed and built, 13 GPU-based Ethereum mining rig, and successfully completed a full 30 day uninterrupted hashing rate of 400 Mega Hash per second (400 MHash/s) in precise over clock calibration.
The total amount of Ether (Ethereum or ETH) tokens mined using an independent third party mining pool, was 2 ETHER TOKENS over a 31 continuous days with current Ethereum network difficulty during the period of November 21 to December 22, 2017. The total revenue in USD is estimated at US$2,225 based on the current value of an ETH.
The power draw of the rig was on average 1,492 watts or 1.492 kW/h resulting in an estimated cost of electricity of approximately US$50 per month based on undiscounted power rates. The total cost of each rig including assembly is estimated at US$8,000 and the company is currently evaluating options for the financing of a suite of rigs for the facility.
About United American Corp
Established in 1992, United American Corp is a Florida-based development and management company focusing on telecommunications technologies. The company currently holds the rights to manage and develop projects based on a portfolio of patent and proprietary technology in telecommunications, social media and more recently in Blockchain PSTN technology. This includes patent pending Smartphone-over-IP technology as well as the Canada and US patented iFramed social media posting gateway. iFramed is currently the subject of enforcement action against Snap Inc. (NYSE: SNAP) which UnitedCorp alleges is the underlying technology for Snap's "Geofilters".
For more information, visit: www.unitedcorp.com.
This news release contains forward-looking statements that are subject to various risks and uncertainties. The Company's actual results could differ materially from those anticipated in such forward-looking statements as a result of numerous factors that may be beyond the Company's control. Forward-looking statements are based on the expectations and opinions of the Company's management on the date the statements are made, and the Company assumes no obligation to update forward-looking statements should circumstances in management's expectations or opinions change.
Source:
United American Corp
Contact:
Jenna Trevor-Deutsch
Investor Relations
investorrelations@unitedcorp.com
604 398 5000 ext: 109
UnitedCorp Mining Rig
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