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UnitedCorp Subsidiary Blockchain Data Centers Inc Acquires First Dedicated Blockchain Mining Data Center

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MIAMI, Jan. 09, 2018 (GLOBE NEWSWIRE) — via OTC PR WIRE — Miami-based United Blockchain Corp a wholly owned subsidiary United American Corp (“UnitedCorp”), (OTC:UAMA) announced today that it has acquired its first data center facility in the Mile End neighbourhood of Montreal, Quebec Canada which it will operate through a newly created mining division; Blockchain Data Centers Inc.

The leased facility which has capacity for 50 mining rigs is fully built out and will be ready to start hosting GPU-based mining servers within the following weeks. UnitedCorp recently completed experimental testing on its own custom designed and built, 13 GPU-based Ethereum mining rig, and successfully completed a full 30 day uninterrupted hashing rate of 400 Mega Hash per second (400 MHash/s) in precise over clock calibration.

The total amount of Ether (Ethereum or ETH) tokens mined using an independent third party mining pool, was 2 ETHER TOKENS over a 31 continuous days with current Ethereum network difficulty during the period of November 21 to December 22, 2017. The total revenue in USD is estimated at US$2,225 based on the current value of an ETH.

The power draw of the rig was on average 1,492 watts or 1.492 kW/h resulting in an estimated cost of electricity of approximately US$50 per month based on undiscounted power rates. The total cost of each rig including assembly is estimated at US$8,000 and the company is currently evaluating options for the financing of a suite of rigs for the facility.

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 and develop projects based on a portfolio of patent and proprietary technology in telecommunications, social media and more recently in Blockchain PSTN technology. This includes patent pending Smartphone-over-IP technology as well as the Canada and US patented iFramed social media posting gateway. iFramed is currently the subject of enforcement action against Snap Inc. which UnitedCorp alleges is the underlying technology for Snap’s “Geofilters”.

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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

Contact:
Jenna Trevor-Deutsch
Investor Relations
investorrelations@unitedcorp.com

604 398 5000 ext: 109

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