Digital Power Corporation hops onto the cryptocurrency wave

06:44 12/04/2017

The 90 percent intraday surge in shares of Digital Power Corporation DPW  from piggybacking off the cryptocurrency wave just took a hit after hours by the company doing an offering for 2,299,800 Shares of Common Stock at a price of $1.83 . Digital Power shares are down as much as 20 percent after hours.

The Fremont, CA based company announced today the unveiling of its first cryptocurrency hardware through its wholly owned subsidiary, Coolisys Technologies, Inc. the company anticipates launching a line of advanced technology power systems for digital mining of cryptocurrencies, including Bitcoin and the other top digital currencies worldwide. Both digital mining as an industry and cryptocurrency as an asset class have experienced exponential growth for the past 5 years.

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.

The active digital mining markets led by Bitcoin, Ethereum and the other 900+ digital currencies have created a budding hardware demand driving the need for efficient low-cost power solutions.’ PoW Digital Mining affirmed that the top issue for most professionals and amateurs who actively mine Bitcoin, Litecoin and other cryptocurrencies is energy costs.

Cryptocurrency mining of block-chain transactions is power-hungry.

In late October Coolisys Technologies announced that it was awarded two customer renewal orders to supply the custom switching power solution it has developed for cloud based data centers and for powering converged cable TV edge router and gateway nodes that supports the continuing exponential demand for cloud based computing services.

This bodes well for the company as the cloud computing industry is expected to grow from $67B in 2015 to reach over $162B in 2020.

This article has been provided by a Chasing Markets contributor. All content submitted by this author represent their personal opinions, and should be considered as such for entertainment purpose only. All opinions expressed are those of the writer, and may not necessarily represent fact, opinions, or bias of Chasing Markets.
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