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Blockchain Popularity Continues to Drive Interest in the Cryptocurrency Markets
[June 22, 2018]

Blockchain Popularity Continues to Drive Interest in the Cryptocurrency Markets

NEW YORK, June 22, 2018 /PRNewswire/ --

According to Allied Market Research, the global Blockchain Distributed Ledger market accounted for USD 228 Million in 2016, and is anticipated to reach USD 5.4 Billion by 2023 while growing at a CAGR of 57.6% from 2017 to 2023. Blockchain Distributed Ledger is a medium of exchange formed and stored electronically, using encryption methods to regulate the creation of financial units and to verify the transfer of funds. The research indicates that the popularity of the new technology is attributed to Blockchain data being complete, consistent, timely, accurate and widely available. GD Entertainment & Technology Inc. (OTC: GDET), BTCS Inc. (OTC: BTCS), MGT Capital Investments Inc. (OTC: MGTI), Black Cactus Global (OTC: BLGI), Bitcoin Services Inc. (OTC: BTSC).

The SEC's Director of Corporate Finance, William Hinman, explained recently that two of the world's biggest virtual currencies need not be regulated like stocks and bonds. According to the Washington Post, Hinman said that, "Based on my understanding of the present state of ether, the Ethereum network and its decentralized structure, current offers and sales of ether are not securities transactions. As a network becomes truly decentralized, the ability to identify an issuer or promoter to make the requisite disclosures becomes difficult and less meaningful. As with Bitcoin, applying the disclosure regime of the federal securities laws to current transactions in ether would seem to add little value."

GD Entertainment & Technology, Inc. (OTC: GDET) announced last week that it, "is excited to announce the Company's delivery of over 100 Cryptocurrency mining machines. These state- of- the-art machines (Bitmain and Avalon) are the most powerful units in the marketplace today. The shipment was comprised of Bitmain S9 T9 A3 Avalon 821 models.

GDET Receives Delivery of Cryptocurrency Machines for New Jersey Mining Operation

GDET's delivery of Bitmain S9 T9 A3 Avalon 821 models

The Company has taken delivery of the units in the New Jersey mining facility and is in the process of setting up custom mining rigs. These machines will establish our initial in-house mining operation. Corporate accounts have been set up and approved for both the mining pool and a Cryptocurrency exchange to convert the "mined revenues" into dollars.

The Company is in the process of achieving the following critical near-term objectives in order to expand its mining operations:

  • Secure permits to upgrade heavy power for data center
  • Locate an additional data center to accommodate future deliveries
  • Work with local electric company to negotiate subsided electricity costs

GD Entertainment and Technology is already in the process of seeking additional heavy power upgrades to its facility and has explored several options to help with the expansion. With the cooperation of PSE&G Electric, the Company will discuss the possibility of maximizing the facility's capacity while creating an industry standard mining environment. While the current focus of the Company's mining operation is Bitcoin, many other machines are available to diversify the portfolio into other cryptocurrencies such as Ethereum, Litecoin, etc. With the help of the broad market knowledge of its overseas supplier, the Company plans on acquiring the latest in mining technology as well as other products and services. By adapting to the market conditions, other Cryptocurrencies will be explored and taken into consideration in order to stay current with market trends. Shareholders can expect new updates very soon as the Company is in the process of working on all these objectives in real time."

BTCS Inc. (OTCQB: BTCS), a blockchain technology-focused company, recently released a Letter to Shareholders updating current activities. Charles Allen, CEO and Chairman of the Company, said, "The performance of the blockchain space over last year validates our original

business thesis, which began in early 2014. Despite having the right idea at the right time, the

challenge of raising the necessary capital to execute impacted our ability to truly realize the

potential from this disruptive opportunity." He continues, "We entered 2017 with USD 5.3

Million in total liabilities and only USD 98 Thousand in assets. Through capital raises and debt

restructuring achievements during last year, we've dramatically improved our financial

position." Lastly, Charles Allen concludes that, "As a result of the above efforts and

accomplishments as of December 31, 2017, we had no debt and cash of approximately USD

303K and digital assets valued at USD 621K for an aggregate of USD 924K in total assets."

MGT Capital Investments Inc. (OTCQB: MGTI) ranks as one of the largest U.S. based Bitcoin miners. When fully deployed, MGT will own and operate approximately 7,000 Bitmain S9 miners, and 50 GPU-based Ethereum mining rigs. The Company recently announced that it has filed a Universal Shelf Registration Statement covering up to USD 150 Million of various MGT securities, including common stock, preferred stock, debt securities, rights, warrants and units, that the Company may sell from time to time. As disclosed in the Company's Form S-3, MGT has made an application to The Nasdaq Stock Market to list its common stock on The Nasdaq Capital Market, although there can be no assurance that our application will be approved.

Black Cactus Global (OTCQB: BLGI) is a technology developing company with a focus on the blockchain, machine learning, cryptocurrency, and the Internet of Things. The Company recently announced that the company has completed a share exchange agreement with the Blockchain development subsidiary, Black Cactus Global Technologies Pvt. Limited. The agreement calls for the BLGI to own an initial 29% interest in BCG-TPL which has already achieved significant milestones that will enable BLGI to scale-up development activities. BCG-TPL has already set up a Blockchain development center in the newly developed Vizag Software Technology Park in Visakhapatnam, India. This modern facility will house one of the larger Blockchain development teams, it will enable Black Cactus Global to service its clients in an extremely professional and effective manner, and to deliver on the promise of Blockchain technology.

Bitcoin Services, Inc. (OTC: BTSC) offers services related to cryptocurrency and bitcoin, such as Bitcoin Mining and Blockchain Software Development. Bitcoin mining is the means by which new Bitcoin is brought into circulation, the total of which is to be capped at 21 Million BTC. Bitcoin mining serves to both add transactions to the blockchain and to release new Bitcoin. The mining process involves compiling recent transactions into blocks and trying to solve a computationally difficult puzzle. Bitcoin Blockchain is the technology backbone of the network and provides a tamper-proof data structure, providing a shared public ledger.

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