GD Entertainment And Technology (OTC: GDET) is proud to announce the retrofit of our New Jersey mining facility. The company has retained counsel from Forest Hill Electric, a major electric firm servicing the Tristate Area. Michael Fiore, CEO of Forest Hill is overseeing the service upgrade of the New Jersey mining facility with a team of five licensed specialists on site. Mr. Fiore and his team have already surveyed the location and drawn up blueprints for the upgrade. Fiore commented “This is a very exciting time for Forest Hill to explore Blockchain technology. We have done many commercial jobs in the past, including data centers, but working with Mr. Idnani has been a pleasure with his technological vision”.
PSE&G has already conducted a site visit, with both engineering team and construction team to approve the service upgrade. The service includes a complete overhaul, which will allow the facility to operate at a capacity of 800 amps. PSE&G has plans to install a brand-new transformer on location as well as transmission lines to accommodate the heavy power. Management is in the process of negotiating with PSE&G to subsidize the supply charge rate in order to lower overhead and maximize the Company’s revenues.
With the assistance of Forest Hill, the Company has been able to create its first test run of the Bitmain S9 machines with a total of 15 units operating successfully. Our in-house technicians have already pre-installed the remaining units from last week’s delivery and are awaiting the completion of the service upgrade to be fully functional. The Company has also connected the machines in this trial period with our Corporate Mining Account online and have been successfully mining Bitcoin.
We are excited to share our new developments from our management, our partner Forest Hill Electric, PSE&G, as well as town officials very soon.
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