GD Entertainment and Technology has announced that that it has completed a major power upgrade to its primary New Jersey Cryptocurrency mining facility centered on a complete overhaul of the facility’s electric capacity.
GDET CEO, Anil Idnani, said the company is ramping up capacity right on schedule, and already benefiting from tremendous market conditions. Bitcoin prices are on the march higher, adding over $40 billion in market cap since GDET began full-scale mining operations in June.
This facility upgrade will add to the tremendous performance the company has already seen, and put it in an even better position to capitalize on the positive market dynamic. The net result of the upgrade is a 100% increase in total power capacity from 400 amps to 800 amps at the facility.
The company retained Forest Hill Electric, a major electric firm servicing the Tristate Area, to manage the facility upgrade process. The capacity upgrade has already been completed.
Remaining steps to bring that new capacity fully online include installation of three breaker panels to accommodate power to the remaining machines; installation of critical meter connection components; completion of New Jersey Town Inspection and issuance of “Cut-In Card.” There is also the installation of on-site transformers; and completion of change-over with PSE&G.
Forest Hill Electric CEO Mike Fiore said the company is happy to announce the on-time completion of the GDET Mining Facility upgrade.
Fiore expressed pride for how his team handled this job. Working conditions provided by GDET management paved the way for some of its best work to date. The company also to signed an exclusive Maintenance Contract for the GDET facility. “We look forward to working with GDET on future projects.” adds Fiore.
GDET shareholders can expect new updates very soon as the company continues to execute an aggressive phase of operational development and expansion.