WRIT Media Group Launches Pelecoin Cryptocurrency Mining Operation
BEVERLY HILLS, Calif., Feb. 9, 2018 /PRNewswire/ -- WRIT Media Group, Inc. (OTCQB: WRIT) is pleased to announce the formation and launch of a wholly-owned cryptocurrency mining and hosting operation called Pelecoin Mining Factory Ltd. ("PMF"). PMF, a Nevada corporation, will develop and offer Pelecoin crypto coin mining hardware solutions, and will lease, build and operate cryptocurrency mining datacenters. Pelecoin Mining Factory is currently exploring datacenter locations that take advantage of cheap and clean electricity.
"We are very excited to be joining the crypto coin hardware and hosting business, and hope to increase access to our Pelecoin software platform by increasing hardware transaction speeds and offering this bundled solution at a competitive price," said WRIT Media Group CEO, Eric Mitchell. "WRIT Media Group also expects to benefit by hosting third-party mining equipment, which can generate additional revenues for the Company when added to our Pelecoin software mining system."
Pelecoin Mining Factory expects to begin operating its pilot cryptocurrency mining facilities this month in Washington State and two other east coast locations. PLCN Mining Factory is already offering PLCN Miners with equipment sourced and assembled by technology professionals who have been engaged by the Company. These professionals are system architects who have extensive experience in creating and assembling computer equipment, and have created a custom tailored hardware solution to run Pelecoin mining software. Pelecoin Mining Factory is providing hosting services for a limited amount of equipment from third-parties, and expects this to be a growth area for the Company.
WRIT Media's Pelecoin ("PLCN") is a token which is emitted based on the Pelecoin software platform that enables the simultaneous "mining" of a basket of up to fifty crypto-currencies, combined with a trading algorithm that liquidates the most profitable coins and/or trades between them to make the basket more valuable.
In addition to enhancing the features of its Pelecoin technology, WRIT Media Group is investing in client acquisition across all businesses and geographies that will benefit from its Pelecoin platform, including large, established organizations as well as emerging growth companies. As a result, WRIT Media intends to accelerate growth by adding new business lines, new clients and expanding the digital currency "mining" capabilities of existing clients, as well as develop new revenue models for business growth.
Pelecoin is now available to the public by registering for a free Pelecoin account and by downloading the Pelecoin miner in order to start mining. For additional information and to register follow the link www.Pelecoin.com
About WRIT Media Group
WRIT Media Group, Inc. (OTCQB: WRIT) is a diversified media and software company whose operations include digital currency software development, including trading platforms and Blockchain solutions, content production and distribution; and video game distribution via mobile platforms.
Cautionary Note Regarding Forward-Looking Statements
Except for the historical information contained herein, the matters discussed in this press release are forward-looking statements that involve risks and uncertainties that could cause actual results to differ materially from those predicted by such forward-looking statements. Investors are cautioned that all forward-looking statements involve risks and uncertainties, including, but not limited to, those discussed in WRIT Media Group's latest 10-K filed July 14, 2017. The company undertakes no obligation to publicly update or revise any forward-looking statement, whether as a result of new information, future events or otherwise.
Pelecoin, CrypFXPro, Pelecoin Smart Contracts, Pelecoin Mining Factory and their related trademarks and names are the property of WRIT Media Group, Inc. and are registered and/or used in the U.S. and countries around the world. All other trademarks belong to their respective owners.
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