The stock of Digital Power Corporation (NYSEAMERICAN:DPW) closed at $4.13 losing 0.24% in yesterday’s trading session. This company has over the years looked at making acquisitions and organic growth as the topmost strategies for it to attain its set goal of accumulating high revenues. Today Digital Power comes up with a new announcement making known its plans to unveil a new business division that will be committed to the mining of cryptocurrencies.
The initial plan is to try its level best to swing into action in the mining of the top ten cryptocurrencies including Bitcoin Cash (“BCH”), Bitcoin (“BTC”), Ethereum (“ETH”), Monero (“XMR”) and Litecoin (“LTC”).
The next move by the company is to make prior arrangements targeted at kick starting the cryptocurrency mining endeavors as soon as possible. The collaboration with IMG Networks (“IMG”) of San Diego is targeted towards the establishment of numerous mining farms globally with the aim of coming up with a network of about 10,000 digital mining machines.
The Company asserted that its resolve on pursuing the digital mining of cryptocurrencies as well as the set up of a new business division was arrived at through a series of evaluations as well as actions by PoW Digital Mining and Digital Power. The two have been conducting as series of tests in a wide range of digital mining equipment but the most important part should be to lay down the basis of the company’s priority.
The recent move by the company to come up with the new cryptocurrency mining division comes with along with a huge impact considering that the testing complex has gone through transition to become a source of generating commercial revenue. Bitcoin was recently approved to be trading publicly with over two U.S. national exchanges. These were the Chicago Mercantile Exchange and Futures Exchange.
The company’s spokesperson stated, “Digital Power reminds all shareholders, investors and the public that its many years of manufacturing quality products, cultivation and retention of long-term clients and leading innovation should speak for itself as the Company continues to pursue new endeavors.”