Digital Power Corporation (NYSEAMERICAN:DPW) shares are burning up the Street today, exploding over 160% through the market ceiling. What has Wall Street traders so jazzed about this diversified electronics company?
With Bitcoin circling $10,000 and the crypto market now popping past $300 billion, it seems Digital Power’s wholly owned subsidiary is captivating investor attention, with tech-centric holding firm having walked into a new agreement with PoW Digital Mining. The deal will allow Coolisys to run its buildup of a portfolio centered on equipment coupled with services while zooming in on Digital Mining and correlated research-meets-development of crypto-currency.
With a maturing hardware demand firing off an urgency for effective and economic power solutions, Bitcoin, Ethereum, and the likes of well past 900 digital currencies have shepherded active digital mining markets and stirred the pot for demand that keeps sailing. Crypto-currencies are breathing life into a new playing field burgeoning with growth opportunity.
Bitcoin’s price tag has officially peaked past the $10,000-mile marker at various South Korea-based bitcoin exchanges, which to offer some context, most of bitcoin exchanges across the globe have pegged prices ranging from $9,500 to $9,700, based on stats from CoinMarketCap.com. With a $9,624.90 press-time average noted at CoinDesk’s Bitcoin Price Index (BPI), from market open today, this implies a whopping close to $300 rally.
Adding more food to thoughts that markets around the world may see a boost past $10,000, it is worthy of note that Bitcoin has by now been experiencing meaningful price booms lately, reaching beyond $9,000 for Thanksgiving weekend. For this reason, headway made here along with what fellow crypto-currencies are replicating have translated to a market cap on the whole extending past $300 billion, a level that had never been reached before.
The start of the holiday season likewise brought in roughly 100,000 accounts to one of the biggest digital currency exchanges in the globe, Coinbase, which interestingly preceded this latest price upturn. With Coinbase amassing a 167% bump up in platform users to 13.1 million compared to this time last year, it is no wonder that Bitcoin is setting new highs in the span of a night, jumping just yesterday to $9,000 for the first time before arching over $9,5000 in a matter of mere hours after.
The world of crypto-currency in turn has had a chain effect, ending with a Wall Street player of the likes of Digital Power reaping the benefits of the rocket fuel momentum.