Digital Power Corporation (NYSE:DPW) shares are taking off almost 12% this morning after crypto enthusiasts are catching on that this diversified electronics company is serious about galloping towards reaching its ambitious target: gaining 10,000 digital miners of cryptocurrencies deployed across the globe. The piqued social media interest via Facebook through a video glimpse into its crypto mining just last night, following up with this morning’s news of adding co-locations to its deployment strategy for digital miners.
Just last week, the company welcomed its first co-location deal, poised to cater to a 1,000 unit installation, digitally mining a mix of the leading ten cryptocurrencies coupled with units already in operation, as had been revealed. Notably, this is a volatile stock that has thundered up a whopping 540% year-to-date, enjoying the ride as bitcoin and crytpocurrencies have magnetized the market’s attention, with momentum that just keeps getting fired up all the more.
More crypto mania insights: Are Investors Missing the Boat (and Profits) on Bitcoin as It Becomes More Mainstream? Not Yet
The company’s cryptocurrency mining division decided over the past two weeks that to best attain its goal of 10,000 machines on a timely basis that an additional approach to digital mining would be effective. In addition to the use of Digital Power’s current manufacturing and office facilities and the purchase or leasing of new operational locations, the DPW team believes that co-locations hosting servers and networked devices can be readily leveraged. Co-locations can provide key elements including privacy, security, operational access/control, power capacity /redundancy and operational expertise. Co-locations also have the versatility of entering agreements spanning a short or long-term period thus providing the ability to grow from long-term planning or necessitated to resolve through pivoting to fulfill short-term requirements. Likewise, Digital Power will continue to research other co-location opportunities to deploy its network of digital miners nationally and internationally.
In a related matter, the Company filed an 8-K report with the SEC, after the close of market on December 26, declaring its intent to use its social media page on Facebook, https://www.facebook.com/DigitalPowerCorp, as a focal point to disseminate information about the company including that which may be deemed “material.”
The company this past week posted on its Facebook page various photos and videos showing the testing and deployment of its digital mining units at its current locations and will continue to post information, photos and videos of additional deployment of digital mining units or the launching of new locations as it develops its proprietary network worldwide.
DPW has a 1-year high of $5.95 and a 1-year low of $0.40. The stock’s 50-day moving average is $2.51 and its 200-day moving average is $1.05.
Digital Power Corp. engages in the design, development, manufacture, and sale of customized and flexible power system solutions. Its products include adapters, open frame, capacitor chargers, compact peripheral component interface, and front end. It operates though the North America and Europe geographic segments. The North America segment comprises sales through Digital Power Corporation. The Europe segment includes sales through Digital Power Limited.