DPW Holdings, Inc. (NYSE American:DPW)
(“
DPW” or the “
Company”), a
diversified holding company, hereby announces that its wholly owned
subsidiary Super Crypto Mining, Inc. (“
SCM”) has
entered into an agreement to purchase another 1,100 S9 mining
machines (the “Miners”) as DPW continues toward its previously
stated goal of having 10,000 active mining machines by the end of
2018.
Pursuant to the agreement, SCM has agreed to acquire to (the
“Miners”) manufactured by Bitmain Technologies, Inc. (the
“Bitmain”), in connection with SCM’s mining operations, from
Blockchain Mining Supply & Services Ltd. (“BMSS”). Pursuant to
the agreement, SCM will pay an aggregate of $3,200,000 to BMSS for
the Miners, in the following amounts and on the following dates:
(i) $163,625.00, or 5% of the aggregate purchase price, with
$80,000.00 being paid on March 9, 2018 and $83,625.00 being payable
on March 13, 2018; (ii) an additional $1,487,500.00, or
approximately 46% of the aggregate purchase price, on or before
March 23, 2018, providing the inspection conducted by SCM of the
Miners is satisfactory to SCM, and (iii) the balance of
1,621,375.00, or approximately 51% of the aggregate purchase price
on or before April 15, 2018. The Company intends to fund SCM’s
acquisition of the Miners though the proceeds derived from its
ongoing At-the-Market Offering described in the Prospectus
Supplement filed with the SEC on February 27, 2018. Please see the
Current Report on Form 8-K that will be filed shortly following the
issuance of this press release, which will include the agreement as
an exhibit.
“Prices on the S9 miners dipped so we jumped at the opportunity
to purchase these machines slightly ahead of plan,” commented
Darren Magot, the CEO of Super Crypto Mining. “Our team is focused
on the execution of our 2018 plan and these machines keep us on
pace to meet our previously stated objectives while maximizing
budget efficiencies.” This news comes on the heels of the
successful 1st round of the Super Crypto Cloud Mining offering and
will fuel the next offering expected in early Q2, 2018.
“Super Crypto Mining continues to demonstrate that it is an
important contributor to the overall business of DPW Holdings,”
commented Milton “Todd” Ault III, the Company’s CEO and Chairman.
“We continue to be committed to this rapidly growing business
segment and look forward to the next Super Crypto Cloud Mining
offering.”
ABOUT DPW HOLDINGS, INC.Headquartered in
Fremont, CA, DPW Holdings, Inc. is a diversified holding company
that, through its wholly owned subsidiary, Coolisys Technologies,
Inc., is dedicated to providing world-class technology-based
solutions where innovation is the main driver for mission-critical
applications and lifesaving services. Coolisys’ growth strategy
targets core markets that are characterized by “high barriers to
entry” and include specialized products and services not likely to
be commoditized. Coolisys through its portfolio companies develops
and manufactures cutting-edge resonant switching power topologies,
specialized complex high-frequency radio frequency (RF) and
microwave detector-log video amplifiers, very high-frequency
filters and naval power conversion and distribution equipment.
Coolisys services the defense, aerospace, medical and industrial
sectors and manages four entities including Digital Power
Corporation, www.DigiPwr.com, a leading manufacturer based in
Northern California, 1-877-634-0982; Digital Power Limited dba
Gresham Power Ltd., www.GreshamPower.com, a manufacturer based in
Salisbury, UK.; Microphase Corporation, www.MicroPhase.com with its
headquarters in Shelton, CT 1- 203-866-8000; and Power-Plus
Technical Distributors, www.Power-Plus.com, a wholesale distributor
based in Sonora, CA 1-800-963-0066. Coolisys operates the branded
division, Super Crypto Power, www.SuperCryptoPower.com.
Digital Power Lending, LLC, a wholly owned subsidiary of the
Company, is based in Fremont, CA, and is a California private
lending company dedicated to strategically providing capital to
small and middle size businesses for an equity interest in addition
to loan fees and interest, www.DigitalPowerLending.com. Excelo,
LLC, a wholly-owned subsidiary of the Company, is a national search
firm specializing in fulfilling strategic executive, professional
and hi-tech placements for businesses delivering world-class
services, www.Excelo.com. DPW Holdings, Inc.’s headquarters is
located at 48430 Lakeview Blvd., Fremont, California, 94538;
1-877-634-0982; www.DPWHoldings.com. For Investor inquiries:
IR@DPWHoldings.com or 1-888-753-2235.
Forward-Looking Statements
The foregoing release contains “forward looking statements”
within the meaning of Section 27A of the Securities Act of
1933, as amended, and Section 21E of the Securities Exchange
Act of 1934, as amended, including statements regarding the
acquisition and the ability to consummate the
acquisition. These forward-looking statements generally
include statements that are predictive in nature and depend upon or
refer to future events or conditions, and include words such as
“believes,” “plans,” “anticipates,” “projects,” “estimates,”
“expects,” “intends,” “strategy,” “future,” “opportunity,” “may,”
“will,” “should,” “could,” “potential,” or similar expressions.
Statements that are not historical facts are forward-looking
statements. Forward-looking statements are based on current beliefs
and assumptions that are subject to risks and uncertainties.
Forward-looking statements speak only as of the date they are made,
and the Company undertakes no obligation to update any of them
publicly in light of new information or future events. Actual
results could differ materially from those contained in any
forward-looking statement as a result of various factors. More
information, including potential risk factors, that could affect
the Company’s business and financial results are included in the
Company’s filings with the U.S. Securities and Exchange Commission,
including, but not limited to, the Company’s Forms 10-K, 10-Q and
8-K. All filings are available at www.sec.gov and on the Company’s
website at www.DPWHoldings.com.
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