GDET Announces Over 40% Energy Savings on Cryptocurrency Mining Operation Other OTC:GDET

FORT LEE, NJ, July 18, 2019 (GLOBE NEWSWIRE) — via NEWMEDIAWIRE — GD Entertainment And Technology (GDET) (“GDET” or the “Company”) is excited to announce that after bidding amongst major electricity providers, management was able to secure a long-term contract with new rates that will provide an annual savings upwards of 41%.

GDET recently announced that a third-party broker was bidding for the Company’s electricity contract in the market and was looking to secure a new rate in immediate effect for the next billing cycle. At the time of the announcement, the bids spanned a range that reflected over a 20% savings.

Management has currently signed with a provider that will not only provide fixed pricing at a major +40% discount but also allows for the option to increase the energy consumption in the future at no penalty or additional cost. This option allows the Company to work on any upgrade of the mining facility with the flexibility of calculating overhead costs…