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UnitedCorp Subsidiary Blockchain Data Centers Announces Large Scale Mining Operation Hosting Agreement for its First BlockchainDome

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MIAMI, March 20, 2018 (GLOBE NEWSWIRE) — Via OTC PR Wire — Miami-based United American Corp’s (“UnitedCorp”) (OTC:UAMA) wholly owned subsidiary Blockchain Data Centers Inc. (“BDC”) announced today that it has entered into a major Hosting Service Agreement with Vancouver-based Woodland Technology Group Inc. (Woodland).

Under the agreement Woodland will immediately provide 1,000 ASIC mining rigs for hosting within BDC’s first BlockchainDome which is expected to be fully operational in April 2018, thereby completing the first phase of BDC’s BlockchainDome project rollout. Woodland has already provided BDC with a substantial financial commitment and the agreement provides Woodland with an option to provide mining rigs for hosting in additional BlockchainDomes. The agreement is a direct result of UnitedCorp’s Request for Proposal (RFP) issued on January 24th 2018 to manufacturers and operators of cryptocurrency mining rigs.

Erection of the first BlockchainDome is complete, and the company is currently in the process of provisioning the Passive Cooling Ground-Coupled Heat-Exchanger Canadian Wells with the Negative Air Pressure Mining Rigs docking stations technology and Woodland is expected to deliver the mining rigs in early April.

BDC is now planning its second BlockchainDome and is in the process of implementing its retail mining business plan which will offer individuals, groups and smaller mining operations with the opportunity to undertake fully managed mining activities within BlockchainDomes on shared revenue basis or via a hosting agreement. BDC is also in the planning phase for implementation of its own mining program with its own mining rigs.

BlockchainDomes Technology with Greenhouse Heat Generation Station

BlockchainDome™ Heat Generation Station Rendering

The UnitedCorp BlockchainDomes are designed for large scale ASIC (Application-Specific Integrated Circuit chip) and GPU (Graphics Processing Unit) mining operations where efficiency and low cost operations are a priority. The BlockchainDomes are particularly well 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. UnitedCorp believes that the combination of low cost of operation, rapid deployment and low capital cost will 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 operation.

The BlockchainDomes utilize a proprietary passive cooling ground-coupled heat-exchanger technology providing them with a highly efficient cooling solution for high-density mining operations which contain some of the hottest running computers in the world. Operational limitations are often encountered in mining operations with inadequate cooling as chips heat from the heavy processing required for mining causing a protective throttling back of 5-25% processing power to keep the systems from overheating. This throttling back reduces the efficiency of the operation and therefore reduced mining output. While active cooling through air conditioning and power venting are used in traditional bricks and mortar mines facilities, this adds significantly to the cost of operations and reduces their profitability.

The BlockchainDomes utilize some 2,700 feet of subterranean 24 inch diameter PEHD conduits installed 8 feet below grade which extend away from the dome on each side for a total of 17,000 cubic feet of air intake and are extendable if required. Filtered surface air is drawn into the conduits as a result of the negative pressure which is created within rig docking station and from the overall chimney effect within the dome. 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 to 55 degrees Fahrenheit (the year round ground temperature) 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 mining rig docking station. The negative dome pressure is created through a combination of the heat rising from the mining rigs (the “chimney effect”), the server cooling fans and the heat exhaust ducts at the apex of the dome connected to greenhouse located beside the dome.

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. In addition, the typical stacking configuration used for the servers means that servers on upper racks receive hot air from servers in lower racks.

All mining rig computer equipment inside the BlockchainDomes is installed on individual vertical pipes which are connected to the Canadian wells. By using negative air pressure mining rig docking stations, vertical air flow from the intake pipes brings cool air from the ground well intakes to the underside of the docking station and maintains the direct vertical nature of air movement direction inside the dome.

Each dome naturally exhausts more than 200,000 CFM of warn air through exhaust ducts and does not require any air conditioning or electro-mechanical cooling or ventilation system.

About United American Corp

Established in 1992, United American Corp is a U.S. Florida-based development and management company focusing on wireless and fix telecommunications networks, data centers, social media and blockchain technologies. The company currently holds the rights to manage a portfolio of patents and proprietary technology in wireless telecommunications, social media, cryptographically-based mining data centers and Blockchain PSTN network 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
Lawry Trevor-Deutsch
SVP Corporate Affairs

Contact:

Jenna Trevor-Deutsch
Investor Relations
investorrelations@unitedcorp.com
604 398 5000 ext: 109

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