MIAMI, Jan. 11, 2018 (GLOBE NEWSWIRE) -- Miami-based United Blockchain Corp, a wholly owned subsidiary of United American Corp ("UnitedCorp") (OTC:UAMA), announced today that its Blockchain Data Center Inc. subsidiary has acquired its first dome infrastructure which will be converted to deploy its new BlockchainDome™ Passive Cooling Ground-Coupled Heat-Exchanger technology.
The company has filed a Patent Application with the United State Patent and Trademark Office (USPTO) for the BlockchainDome which uses Canadian well and chimney effect principals combined with a technique for utilizing Negative Air Pressure in its Mining Rigs within sealed enclosures.
BlockchainDome will become one of the largest mining operations in North America, with a total output exceeding 50 megawatts of global hashing power and ability to increase this capacity.
The BlockchainDome™ whitepaper is available at: www.blockchaindomes.com
Each dome will have a total effective capacity of 2,000 kVA (2 megawatts). A total of 25 domes are planned for deployment in 23 regions of the Province of Quebec within an aggressive timeline. The global cryptographically-based ledger mining capacity of the company is a key element of the upcoming peer-to-peer Telephone Number Transaction PSTN SIP-based BlockNUM network.
Furthermore, the company has filed with Hydro Quebec to enter into a Rate LG which is only accessible to large-power customers with demands exceeding 5 megawatts at price of energy of US$0.0276/kWh (CD$0.0342/kWh) and a monthly demand charge of US$10.56/kW (CD$13.11/kW). Quebec's energy cost is regulated by The Regie de l'Energie of Quebec and is amongst the lowest in North America. Hydro Quebec produces 99% clean energy with low or no carbon emissions.
The 25 domes are planned for deployment in the following regions:
Montreal (2 facilities), Laval, Québec City (2 facilities), Gatineau (Ottawa), Sherbrooke, Trois-Rivières, Chicoutimi (Jonquière), Saint-Jean-sur-Richelieu, Châteauguay, Drummondville, Saint-Jérome, Granby, Beloeil, Saint-Hyacinthe, Joliette, Victoriaville, Salaberry-de-Valleyfield, Rimouski, Sorel, Alma, Saint-Georges de Beauce, Val-d'Or/Rouyn-Noranda
A typical dome takes approximately 14 days to erect and a further 14 days for the installation of the Canadian wells, ducting and power facilities.
The majority of each BlockchainDome will be financed through online pre-sale of the various types of mining rigs to individuals and commercial operations. The mixed operating environment will allow the mining of the most popular cryptocurrencies. The company will soon announce more details on the pre-sale of rigs which is expected to commence in the near future.
Due to the dome's very low construction cost, the low cost of energy and no cost for cooling, all mining rigs which will be owned by third parties will operate on simple revenue sharing business model based on a 50:50 split of gross monthly revenue. All operating costs (including electricity) and overhead will be the sole responsibility of United Blockchain. Payments to rig owners will be automatically transferred on a monthly basis. An online web portal Graphic User Interface will provide real time access to mining rig(s), performance, power consumption, revenue generated, and other operating statistics.
The combined global operation will permit the company to achieve an important critical mass which will become particularly significant as cryptocurrencies such as Ether (ETH) are expected to evolve from their current mining model of Proof-of-Work to that of Proof-of-Stake as this model naturally favors operations with the highest "stakes". BlockchainDome mining server facilities will therefore permit this strategic positioning if and when stake holding become new standard for some networks.
BlockchainDomes Business Model Highlights:
- 25 domes in 23 regions in Quebec
- 2 megawatts per dome with 1,000 mining rigs in each dome
- Mining of ASIC-based and GPU-based cryptographic tokens on Proof-of-Work, Proof-of-Stake and Proof-of-Consensus
- Large proportion of servers to be owned by individuals, groups and corporations and operated by United Blockchain on a revenue sharing basis
- 100% natural cooling with no additional power required
- Passive Cooling Ground-Coupled Heat-Exchanger technology
- Negative Air Pressure in Mining Rigs in sealed enclosures
- High volumetric warm and hot air accumulation reserve
''China has currently has too much of a grip on Bitcoin and other cryptographic mining and we believe that this poses a major threat to the digital economies of countries like the US. This needs to be rapidly rebalanced and we are confident that projects like the BlockchainDome will help to regain dominance in the mining industry," stated Benoit Laliberte, UnitedCorp's President.
United Corp and its subsidiaries will not hold any cryptocurrencies as part of their assets or recognize any assets based on cryptocurrencies. It will only recognize revenue generated from mining proceeds upon conversion to Canadian and US currencies.
UnitedCorp CEO to Hold Investor Conference Call to Discuss UnitedCorp operations, BlockNUM and BlockchainDomes on Friday, January 12, 2018 at 12:00 PM (noon) EST R.S.V.P. at www.unitedcorp.com/conference where all access information will be provided.
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. For more information, visit: www.unitedcorp.com
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.
United American Corp
604 398 5000 ext: 109
Source:United American Corp.