UnitedCorp Announces Further Expansion of its BlockchainDomesadding 1,000 Servers to the Project for a Total of 5,000 and a Total Contract Value of CD$24 Million

Current BlockchainDome Performed Beyond Expectations During Recent Record-Breaking Heat Wave 

United American Corp.
Internal View of BlockchainDome

MIAMI, July 10, 2018 (GLOBE NEWSWIRE) — Miami-based United American Corp (“UnitedCorp”) (USOTC:UAMA) announced today that it entered into a further expansion of its existing Hosting Service Agreement with a Vancouver-based technology company.

On June 25, 2018 the Company announced that it had signed an increase in its hosting agreement from 1,000 to 4,000 mining rigs. Today the agreement was amended to add 1,000 mining rigs to the project for a total of 5,000. All mining rigs are scheduled to be online progressively by October and the Company will increase its BlockchainDome Heat Station capacity proportionally.

In addition, the Company announced today that its patent pending BlockchainDome performed beyond expectations during extreme heat conditions in the Province of Quebec in late June and early July with all mining rigs remaining operational during this period.

“Our current BlockchainDome was really put to the test during the recent record-breaking heat wave which topped 93 degrees Farenheight and a Humidex of nearly 115 degrees for over a week – even though the BlockchainDome has no air conditioning or electromechanical venting.” stated UnitedCorp President Benoit Laliberte. “With the data collected during this period, we now have first hand documentation supporting the ability of the dome to handle heat extremes “

UnitedCorp’s BlockchainDome Passive Cooling Ground-Coupled Heat-Exchanger technology uses Canadian well and chimney effect principals, combined with a technique which utilizes Negative Air Pressure Mining Rig docking station adaptors, another proprietary technology. This process takes surface air and cools it naturally without electricity via a passive subterranean heat exchange system. The cool air is heated as it cools cryptocurrency mining rigs and this heat is then used to support large scale greenhouse agricultural operations through the BlockchainDome heat generation system which can keep greenhouses in excess of 25oC year round.

How BlockchainDomes work can be seen at: https://www.youtube.com/watch?v=YDmhhaJKHLg

The BlockchainDome Technology

The UnitedCorp BlockchainDome was designed for large scale ASIC (application-specific integrated circuit chip) mining operations where efficiency and low cost operations are a priority. The BlockchainDomes are particularly suited for situations where rapid cluster deployment is required as they can be erected and commissioned in a matter of weeks rather than up to a year using the traditional “Bricks and Mortar” approach.  BlockchainDomes can be configured in a wide range of sizes.

The combination of low cost of operation, rapid deployment and low capital cost result in BlockchainDomes providing one of the lowest overall Total Cost of Ownership (TCO) in the mining industry and the most efficient cooling solution for high density power mining operations.

The BlockchainDomes utilize a proprietary passive cooling ground-coupled heat-exchanger technology which provides a highly efficient cooling solution for high-density mining operations which contain some of the hottest running computers in the world. 

The BlockchainDomes utilize some 3,200 feet of subterranean 24 inch diameter conduits which extend away from the dome on each side for a total of 9,200 cubic feet of air intake for each of the 1,000 mining rig docking stations. Surface air is drawn into the conduits and through air filters as a result of the negative pressure created within rig enclosures. The conduits are designed with a corrugated external surface to provide enhanced surface for thermal transfer with the ground, and a smooth internal surface for better laminar air flow and reduced air turbulence.

Warm surface air passing through the conduits is cooled naturally over the length of the pipe run as a result of solid-to-air and air-to-air heat exchange. The air then flows to the underside of the mining rigs which are encased in sealed air-tight docking station adaptors. The negative dome pressure is created through a combination of the heat rising from the mining rigs (the “chimney effect”), the mining rig fans which draw cool air from the Canadian well and from 20 hot air transfer ducts located at the apex of the dome which draw heat from the BlockchainDome for transfer to adjacent greenhouses.

BlockchainDomes are designed specifically to keep the heat generating processors at an optimal temperature through passive cooling. This includes an emphasis on laminar flow to reduce turbulence and an air path which reduces resistance. One of the shortcomings of most active cooling systems is that they use horizontal air flows which are less effective at cooling due to the inefficient flow of air. However BlockchainDomes’ mining equipment is mounted onto negative air pressure docking station adaptors with vertical air flow intakes which bring cool ground air from the Canadian well. Therefore air always moves in a natural direction. Since each mining rig draws some 200 CFM (cubic feet per minute) of cool air, each dome requires an air exchange of 200,000 CFM per 1,000 mining rigs docking stations. As a result, there is no need for air conditioning or electro-mechanical cooling fans.

The productivity and efficiency of the BlockchainDomes has a significant competitive advantage over traditional ‘Bricks and Mortar’ installations that rely on active cooling systems and the company is targeting a 23-30% reduction in total cost of ownership. This is not only due to the reduced cost of electricity but also takes into account amortization of capital costs when compared to other approaches.

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 a portfolio of patents and proprietary technology in telecommunications, social media and more recently in Blockchain PSTN technology.

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

Photos accompanying this announcement are available at
http://www.globenewswire.com/NewsRoom/AttachmentNg/562939e9-d1c0-46af-b716-441ef57d85de

http://www.globenewswire.com/NewsRoom/AttachmentNg/5aa8aa18-bf4f-4297-abb7-07addf6a85c9

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