https://www.cnbc.com/2017/12/13/glo...n-creates-cryptocurrency-mining-division.html
FREMONT, Calif., Dec. 13, 2017 (GLOBE NEWSWIRE) -- Digital Power Corporation (NYSE American
PW) ("Digital Power" or the "Company"), a company seeking to increase revenues through acquisitions and organic growth, announced today that it has launched a new business division dedicated to the mining of cryptocurrencies. The Company’s initial strategy is to mine the top ten cryptocurrencies including Bitcoin (“BTC”
, Ethereum (“ETH”
, Bitcoin Cash (“BCH”
, Litecoin (“LTC”
, Dash (“Dash”
and Monero (“XMR”
. To lead the launch and development of the cryptocurrency mining endeavors, the Company has entered a management services agreement with IMG Networks (“IMG”
of San Diego to establish a series of digital mining farms worldwide with a goal of developing a network of over 10,000 digital mining machines.
The Company believes that it has a competitive advantage based on the following factors:
Over forty-eight (48) years of developing and manufacturing advanced power solutions to some of the most iconic businesses on the Fortune 500.
The ability to leverage its existing infrastructure, capacity and excess space at the various manufacturing facilities of Digital Power and its subsidiaries. These facilities comply with applicable governmental or military requirements with agency-issued certificates corroborating these facts. Moreover, each facility has readily available military-grade power solutions to operate digital mining operations. The Company believes its ability to exploit the inherent attributes of its facilities in Northern and Southern California, Connecticut and Great Britain will reduce initial costs and help shorten the time requirement to establish digital mining operations at these locations.
The thirteen (13) years of technical and practical experience of IMG in Information Technology such as server administration, network engineering or, in this case, digital mining farms.