Digital Power Corporation (NYSEMKT:DPW) opened the week with some strong Monday trading. DPW is currently working on a +25% bump for the day. The jump in price is related to the company’s release of cryptocurrency-related news.
The new for DPW is this: through their subsidiary, Coolisys, the company will launch technology for digital mining rigs. According to the company, Coolisys believes it is well positioned to resolve challenges with the cost and use of power for today’s burgeoning digital mining community and adopt and implement other technological improvements. This particular tech is related to making mining rigs more power efficient. Since electricity is the biggest on-going cost of mining, it follows that maximizing the efficiency of the power supply is critical
Digital Power Corporation (NYSEMKT:DPW) designs, manufactures and markets flexible power supply solutions for the most demanding applications in the telecom, medical, industrial and military markets. In 1998, Digital Power acquired the assets of Gresham Power Electronics, which designs, develops, manufactures, markets, and distributes commercial and military power products for the European market.
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Amos Kohn, President and CEO of Coolisys Technologies and Digital Power Corporation stated, “We have a competitive advantage given our expertise in developing and providing advance power solutions for the tech, military, industrial and healthcare sectors. To power the AntMiner S9, we will utilize our field-proven platform, previously implemented to power cloud-based computing networks and servers, that employ highly-efficient power switching with fully synchronous rectification and advanced digital signal processing (DSP). Our power solutions are based on next-generation design and we believe are among the most technologically advanced power processing solutions available. We project our cryptocurrency initiatives and products could have a material effect on the Company’s revenues and net income for this component of its operations during 2018. We look forward to presenting what we are developing.”
“When we first met with the Digital Power in 2016 and were becoming familiar with its long history of manufacturing advanced power solutions, we recognized that the Company was underutilizing its technical knowledge base and product development capabilities. Our investment strategy included our looking forward to harnessing and leveraging these assets to provide a range of new product portfolios and expanding the Company’s revenue streams. We look forward over the coming months that the marketplace will continue to appreciate the abilities and potential of DPW, its management and staff and its strategies to bring added-value to our shareholders,” commented Milton “Todd” Ault, III, the Company’s Executive
To date, DPW has earned a $36.85M market cap with 15.82M shares out. Digital Power Corporation (NYSEMKT:DPW) is getting in on the Bitcoin craze and got a nice boost in price, but this news might go beyond just theatrics. DPW could potentially offer a nice boost for digital miners here, if the there tech does what it has promised. For continuing coverage on shares of Digital Power’s stock, as well as our other breakout stock picks, sign up for our free newsletter today and get our next hot stock pick!
Disclosure: we hold no position in $DPW, either long or short, and we have not been compensated for this article.
