DPW Holdings Inc (NYSEAMERICAN:DPW) is a mover and shaker out on the Street today, with investors sparking the stock on an almost 8% upturn. The reason? The company has raised its revenue guidance for 2018, on a consolidated basis, from $36 – $38 million to $44 – $49 million.
The Company stated it was very pleased with the results of the recent proxy vote including the authority to change its name from Digital Power Corporation to DPW Holdings, which management of the Company believes better reflects its business model, reincorporate into the State of Delaware and launch its new website.
The Company disclosed the following key factors that have driven the change in revenue guidance:
- An increase in gross revenue due to recent acquisitions as well as the assumption that the acquisition of Enertec Systems 2001 Ltd. (“Enertec”) will be completed during the first quarter of 2018; and
- A higher than anticipated growth in our crypto-mining division.
The revenue guidance for crypto-mining is dependent upon the volatility of cryptocurrencies and their value at that time of reporting. For the projected results of crypto-mining we used the following valuations for these cryptocurrencies:
- Bitcoin (BTC) $12,500.00
- Bitcoin Cash (BTH) $ 2,300.00
- Ethereum (ETH) $ 600.00
- Litecoin (LTC) $ 200.00
The Company anticipates guidance to change based upon the fluctuations in the top ten cryptocurrencies over time and as well as on its ability to install and deploy miners in the future. DPW will update its revenue guidance, as necessary, over the course of 2018.
“We are happy with our acquisitions and with the success we have experienced with crypto-mining. We are excited about our prospects for 2018 and our ability to deliver added value to our stockholders as we continue to execute our strategies,” said Milton “Todd” Ault, III, the Company’s Chief Executive Officer and Chairman.